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Commentary

After Zimbabwe, Iran

So Iran is considering removing zeroes from its currency:

Iran is considering lopping three to four zeros off its currency, a top official said Monday, in an apparent effort to fight out-of-control inflation that many critics blame on the country’s hardline president.

The governor of the Central Bank of Iran, Tahmasb Mazaheri, told state run radio that monetary experts are studying three options: Cutting three zeros off the rial, cutting four zeros, or boosting each rial’s value to one-hundredth of a gram of gold, or about 2,500 rials at current rates.

How does this help the guy with an FD in a bank?