Abstract
Currency depreciation is such a remarkable and curious
phenomenon, which as it has been continued and intensified, has left
unpleasant and unjust effects on Iran's economy in the monetary
transactions (esp. in the long term ones). The present theories had
been propounded for currency with its past nature, and also the
relative stability of its value, are no longer fulfilling the real needs of
this condition.
Emphasizing the turning point of the change of the nature of
currency in the third phase of issuing bank notes and comparing it
with the coins in early Islam, this article explains that mere credit
currency, especially in the condition of the severe and constant
depreciation of the currency, is a new phenomenon which requires
new jurisprudential and legal rules, so that higher assurance and
validity are secured in all monetary transactions.
Therefore, it is necessary for new theorization, bound up with
preservation of the jurisprudential principles and rules, to make this
subject known again. It also seeks the basic changes that can cause
some revisions in jurisprudential rules for money subject to
clarification in an analytical method.
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