Published: 7:29AM Monday March 05, 2007
Source: Reuters
Iran, embroiled in a row with the West over its nuclear
ambitions, will issue a new banknote this month carrying an atomic
symbol, newspapers have reported.
The new note for 50,000 rials, worth the equivalent of about
$US5.40, will be the largest in circulation when it becomes
available on March 12.
Images of the banknote published in newspapers showed one side with
an atomic symbol of electrons in orbit. The other side carried a
picture of the late founder of the Islamic Republic, Ayatollah
Ruhollah Khomeini, like other notes.
Iran is facing mounting pressure over its nuclear plans, which the
West says is a project to build atomic bombs despite Tehran's
insistence its aims are peaceful.
A central bank official was quoted by the business daily Poul as
saying 50 to 60 designs were put forward before the current design
was chosen by Economy Minister Davoud Danesh-Jafari. It did not
give a reason for his choice.
The biggest note now in circulation is for 20,000 rials, worth a
little more than $US2.
With inflation officially running at about 16% - which economists
say underestimates price rises for the goods most people worry
about - Iranians carry increasingly large quantities of notes even
for relatively modest shopping trips.
Some Iranian banks issue travellers cheques for bigger
denominations which are accepted by some outlets like cash. Some
shops also accept Iranian credit cards, but international cards are
not widely accepted.
Advertising