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Iran to change national currency unit to 'toman'

The move will need final approval by the legislative bodies of the country.

Published: 08th December 2016 02:11 AM  |   Last Updated: 08th December 2016 02:21 AM   |  A+A-

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Image for representation purposes only. (File Photo)

By IANS

TEHRAN: The Iran government on Wednesday approved a proposal to change the name of the country's currency unit from rial to toman, media reported.

One toman equals 10 rials and one dollar is worth about 3,900 tomans in Iran's unofficial market currently, Xinhua news agency reported.

The move will need final approval by the legislative bodies of the country.

Before 1932, the Iranian currency unit was toman. It was then changed to rial at a rate of 10 rials to one toman.

Although the toman was no longer an official unit of Iranian currency over the past decades, Iranians commonly expressed amounts of money and prices of goods in tomans.

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