The largest deletions of zeros in history
The Central Bank of Iran has proposed the deletion of four zeros from its besieged currency (riyal), according to Reuters, as it lost more than 60% of its value in 2018.
Governments usually delete zeros when their currency loses purchasing power rather than issuing large categories of currency.
The issue of canceling zeros is not new in Iran. It was preceded by Venezuela when it deleted 5 zeros and Iraq, which has already deleted zero zeros from Iraqi dinars. Turkey eliminated 6 zeros in 2003.