Rial


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Rial

1. 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.

2. The currency of Yemen. It was the currency of South Yemen before unification in 1990. Following unification, the rial remained in circulation along with the North Yemeni dinar until 1996. After the dinar was withdrawn from circulation, the rial became a floating currency.

3. The currency of Oman. It was introduced in 1973, replacing the rial Saidi, which had replaced the Gulf rupee. It is pegged to the U.S. dollar.
References in periodicals archive ?
The sharp devaluation of rial affected Iran's foreign trade last year, resulting in fourfold hike in inflation towards the end of the year.
Masud Gholampur, an analyst at Tehran's Novin Investment Bank, suggested a key cause of the rial's strengthening is the ban on luxury imports, which has greatly reduced the opportunity to pour money into such goods.
ECAP general secretary said the procurement of Iranian currency plunged as the rial fell to record lows against the dollar.
In Teheran's money changing district, licensed bureaux were doing no business at the rate of 28,500 rials to the dollar imposed since Saturday by the central bank in an effort to reverse a collapse of the money last week.
Le ministre de l'Industrie, Mehdi Ghazanfari, avait affirme mardi que la Banque centrale allait "injecter des dollars", tandis que le president de cette institution avait evoque un "effet psychologique" pour expliquer la baisse du rial, rejetant tout lien avec les nouvelles sanctions americaines.
The dollar sold for 12,250 rials in the open market.
After 'Rial's early-afternoon fumble, the coverage soon degenerated into Rial and Brannon discussing Brannon's rain-soaked drive to the station.
Many Iranians expect the value of the rial to nosedive again because US sanctions are depriving Iran of access to dollars.
The bank reported a quarterly profit of 39.76 million rials ($103.3m) in the three months to March 31 compared to 24.99m rials in the corresponding period of 2013, a regulatory filing said.
Mohamed Al Ansari, chairman and managing director of Al Ansari Exchange, one of the UAE's top two exchange houses, said the weakness of the rial, which saw its black market rate roughly halve against the U.S.
Usually when the Rial shows signs of weakening, the bank pumps foreign currency into the market to intervene.
Currency held outside banks fell 1.1 per cent y/y to 547.1 billion rials (US$2.5 billion) during the month, bringing narrow money supply to 778 billion rials.