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EghtesadOnline: The Central Bank of Iran plans to print banknotes in smaller sizes, the director of CBI’s Office for Banknote Issuance said.

“CBI is also working on new designs for 50,000-rial and 100,000-rial banknotes,” Fars News Agency also quoted Masoud Rahimi as saying on Saturday.

The central bank last week unveiled a new version of 10,000-rial banknotes, which is smaller than the current notes, during President Hassan Rouhani’s visit to the bank.

The central banker also said that printing expenses has declined by 50% during the current Iranian year (ends March 20), due to CBI’s measures to promote electronic banking services in recent years, Financial Tribune reported.

Majlis on Saturday permitted CBI to issue new traveler checks for the next Iranian year.

CBI Central Bank of Iran Iran Banknotes Masoud Rahimi