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 ?
and European officials, explain why Iranian financial officials appear reluctant to try to prop up the value of the Iranian rial by selling dollars into the local currency market.
Altogether, this means that the Iranian rial has lost about half of its value this year.
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.
The futures contracts will be denominated in Iranian Rial and settled physically.
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.
Decreased levels of political tension and in particular reduced concerns surrounding additional US administration pressure to further reduce Iranian oil exports contributed to a greater sense of calm in the Iranian Rial.
Baghdad, (NINA) - The head of the Iranian-Iraqi Chamber of Commerce, Yahiya Al-Ishaq, has announced the cancellation of US dollar transactions in trade between Iran and Iraq, replacing it with the euro, the Iranian Rial and the Iraqi dinar.
Now, with the United States pulling out of the nuclear deal and renewing trade sanctions on Iran, the value of the Iranian rial has plummeted to historic lows, staggering investors.
On Sunday, the Iranian rial plunged to 111,500 against one US dollar on the unofficial market, down from about 97,500 rials on Saturday, according to foreign exchange website Bonbast.com.
The Iranian rial has fallen to a record low amid growing concern about the renewed American sanctions, which are due to take effect on Monday.
The Iranian rial plunged to a record low against the U.S.
Not to mention the Iranian Rial staggeringly falling below the dollar, recording a shocking 8,400 Iranian Rials against the dollar.

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