Iranian Rial


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Iranian Rial

The currency of Iran. Issued to replace the qiran in 1932, it was pegged to the British pound at various rates until 1945. After this, it was pegged to the U.S. dollar until 1975. Since the Islamic Revolution in 1979, the rial has been marked by high inflation and low value.
References in periodicals archive ?
Summary: Major money exchange houses in the United Arab Emirates have stopped handling Iranian rials over the last several weeks, executives at the houses said, further reducing Iran's ability to trade and obtain hard currency.
Dollar, Australian Dollar, Bulgarian Lev, Danish Krone, Euro, British Pound, Iranian Rial, Swedish Krona, Swiss Franc, Japanese Yen, Canadian Dollar, Kuwaiti Dinar, Norwegian Krone, Romanian Leu, Russian Ruble and Saudi Riyal.
Rostam Ghasemi said economic restrictions imposed by Western countries, led by the United States, over fears that Iran is developing a nuclear weapons programme have caused the value of the Iranian rial to nosedive 80 per cent this year.
The latest blow was the recent collapse of the Iranian rial, which President Mahmoud Ahmadinejad blamed on the "psychological warfare" waged by Iran's foreign and domestic "enemies.
The Kurdish Globe By Goran Sabah Ghafour As the Iranian Rial exchange rate fell down to a record breaking level and recorded 1:0.
The price of the main food products has risen by 80 percent over a year, and the value of the Iranian Rial has decreased by the same rate over the past year, dropping by 40 percent over the past week.
Kasra Naji, a BBC correspondent, commented: "It is not every day that you see anti-government protests in Irana[bar] What has led them to frustration is the continuing free fall of the value of the Iranian rial - in recent days by 15 percent per day.
In the face of mounting financial pressure, the value of the Iranian rial has dropped sharply in recent weeks, and prices of food, consumer goods, and utilities have spiraled.
Dollar with the Iranian Rial and Russian Ruble was raised during a meeting between Iranian President Mahmoud Ahmadinejad and his Russian counterpart Dmitry Medvedev on the sidelines of the 11th meeting of the Shanghai Cooperation Organization (SCO) last June.
Ulusoy said Turkish Lira was used in Iran, while Iranian rial was being used in Turkey.
Samsami had differed with the central bank on several issues, including over whether to let the Iranian rial appreciate against the dollar.
Gold is an important asset that the Iranian regime depends upon for maintaining wealth and a revenue stream for its nuclear weapons program - especially as the value of the Iranian rial continues to plummet.

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