According to the proposal, one rial should correspond to 10,000 rial in today's value.
The idea of removing zeros from the currency was already on the table in 2019, but the proposal was put on ice at that time.
Before it can become a reality, the proposal must first pass a parliamentary vote. After that, it must be approved by the Guardian Council.
When the issue will be taken up in parliament is not known.
In May, the country's central bank governor Mohammad Reza Farzin said he would drive the issue and stated that the Iranian rial does not have a "high status" in the global economy.
Iran's economy has been heavily pressured and the value of the currency has plummeted due to the American sanctions imposed in 2018 after US President Donald Trump terminated the nuclear agreement JCPOA.
