- Title: IRAN: Defiant Iran puts atomic symbol on its latest banknote
- Date: 13th March 2007
- Summary: VARIOUS OF PEOPLE INSIDE THE BANK
- Embargoed: 28th March 2007 13:00
- Keywords:
- Topics: Economic News
- Reuters ID: LVAG81K2GTRN0LH2WBLMUCOKNA9
- Story Text: Iran, embroiled in a row with the West over its nuclear ambitions, has issued a new banknote carrying an atomic symbol. Iran this week issued a new banknote carrying an atomic symbol, seen by some Iranians as a defiant gesture to the West which has tried to curb the country's nuclear ambitions. The note, worth 50,000 Iranian rials -- the equivalent of about 5.40 U.S. dollars -- was issued to banks on Tuesday (March 13) but is not yet available to the public. The largest banknote in circulation, it carries a symbol showing orbiting electrons on one side and a portrait of revolutionary leader Ayatollah Ruhollah Khomeini on the other. Tehran residents expressed pride in the new banknote, saying it sent a strong message to the world. "The new symbol on the new banknote for 50,000 rials shows the Iranians' idea that they could obtain nuclear energy with their own capabilities. Now they want to show the world their nuclear power," said Tehran resident Reza Taghvaei after seeing the new banknote. "With this symbol on the banknote all the world will understand that nuclear power is our right," added Abolfazl Jolfaei, another resident. Among reasons for the choice of design could be international pressure on Iran over its nuclear programme, which the West fears is intended to produce nuclear weapons. Tehran insists it wants to use nuclear energy solely for the production of electricity. A central bank official was quoted by the business daily Poul as saying between 50 and 60 designs had been submitted before one was chosen by Economy Minister Davoud Danesh-Jafari. No reason was given for his choice. With inflation officially at about 16 percent, which economists say underestimates price rises for the goods most people worry about, Iranians carry increasingly large quantities of notes even for modest shopping trips. Some Iranian banks issue travellers' cheques for larger denominations, which are accepted by some stores. Some shops accept Iranian credit cards, but international cards cannot be used widely. AR/AD
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