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 After the dinar was withdrawn from circulation, the rial became a floating currency.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.
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References in periodicals archive ?
According to a statement posted on the government's website, the move aims to bring radical reform in the country's monetary system, including changing the name of the country's monetary unit from 'rial' to the commonly used 'toman'.
As is normal when the rial strengthens against the dollar, the Tehran Stock Exchange (TSE) has suffered.
From Tuesday, motorists using phone mobile while driving or other electronic equipment may face a 10-day jail-term and be slapped with a fine not exceeding 300 rials. Under the old law, the fine ranged between 10 to 15 rials.
Analysts at EFG Hermes and Gulf Baader Capital Markets had forecast Omantel, which competes with Ooredoo Oman, would make a first-quarter profit of 29.37mn rials and 27.9mn rials respectively.
According to NIORDC, diesel oil will be sold at 2,500 rials, while CNG will be presented at 4,500 rials per cubic meters.
Deposits were also up over the same period, rising 21.8pc year-on-year to 2.18bn rials.
TEHRAN (FNA)- Major foreign currencies lost value against Iran's national currency, rial, on country's free market on January 20 following the implementation of the Geneva deal between Iran and the six world powers.
Net profit for the first half of the year was 18.77 million rials compared with 19.92 million rials in the prior year period, NBO said in a statement on Oman's bourse.
Since January 2012, the Iranian government had maintained a subsidized rate of 12,260 rials to the dollar; this rate was meant to be used principally to import the most vital goods, such as food and medicine.
As previously reported, the budget plan envisages spending of 12.9 billion rials in 2013, up nearly 30 percent from the 2012 plan.
Instead, a few black market dealers were offering the dollar at 35,000 rials -- close to the all-time low of more than 36,000 reached last week when the rial plunged 40 percent in value.
Summary: Yemen's cabinet on Tuesday approved a draft budget for 2012 projecting a deficit of 561 billion rials ($2.6 billion), on revenue of 2.1 trillion rials and expenditure of 2.7 trillion rials.