For many years, Iran's government debated changing the national currency, the rial, by basically slashing four zeros off its face value an acknowledgment of how American . The lowest USD/IRR exchange rate in 2023 was 41,634 Iranian Rials per US Dollar on 16 January 2023. In 2019 alone, around $15 billion [based on the official exchange rate] was spent on importing various items,wroteFars News Agency on November 7, 2021. After the Islamic Revolution, the coinage designs were changed to remove the Shah's effigy but the sizes and compositions were not immediately changed. Exchange restriction arises from limitations on the transferability of rial profits For example,If you buy a handmade Persian rug or a golden jewelry costs 3 Tomans, definitely it means3 Million Tomansor30 Million Rialsand whenyou pay for snacks and it costs3 Tomans, you should pay3 Thousand Tomansor30 Thousand Rials. Euro is around 13,000 Tomans / 130,000 Rials. The most important rate, which is rarely cited in reporting on Iran's currency woes, is the rate available in the NIMA exchange, a centralized electronic system established by the Central Bank of Iran in 2018 to streamline the purchase and sale of foreign exchange among Iranian companies. The currency code for Rials is IRR, and the currency symbol is . The Iranian Resistance has produced an in-depth report about this issue that could be found, a secret document of a so-called Working group meeting to prevent security crises due to basic livelihood problems., Alireza Beigi publicly repeated this warning in his, Latest News & Activities of Iran Protest Leader Maryam Rajavi, Privacy Use of your Personal Information, Contact Us National Council of Resistance of Iran. The Unicode Standard has a compatibility character defined U+FDFC RIAL SIGN. "With capital controls, it would be difficult for the [yuan] to become a viable international currency," economist Stephen Jen told Insider. The highest USD/IRR exchange rate in 2023 was 42,350 Iranian Rials per US Dollar on 21 February 2023. So you dont have to change your currency before your travel, almost all Airports, Hotels and all official currency exchange shops will do currency transaction, especially if your money is frequently used in the world and Iranian tourism system, like US Dollars and Euro. Remember, the official rate is used to buy essential humanitarian imports that are exempt from US sanctions. IRR - Iranian Rial Our currency rankings show that the most popular Iranian Rial exchange rate is the IRR to USD rate. Gold coins denominated in pahlavi were also issued, initially valued at Rls100. Exchange. Exchange shops must operate under the licenses issued by Central Bank of Iran. Danske, however, does not agree, The Pound US Dollar exchange rate (GBP/USD) jumped to fresh highs late on Friday's session, as investors sold off the American Dollar following the release of the latest raft of US data. Below, you'll find Iranian Rial rates and a currency converter. So why have an official subsidised exchange rate at all? The idea is to protect society from rising prices caused by the rial's depreciation. , Mohammad Reza Rezaei Kochi, Chairman of the Civil Commission of the Parliament, The official exchange rate was introduced in 2018 by Hassan Rouhanis government to control the fluctuating currency rate. Injecting sudden foreign exchange revenues in the economic system forms the phenomenon of "Dutch disease" in a country. 1 dirham to Iranian Rial And you see this official unit on the Iranian banknotes and coins. The Iranian rial was first introduced in 1932, replacing the Persian gold kran, at a rate of 1 rial = 10,000 krans. Iranian Rial Israeli New Shekel Japanese Yen Malaysian Ringgit Mexican Peso New Zealand Dollar . In Iranian Banks exchanging money to Rial will take more time. [50][51], On April 12, 2007, the Economics Commission of the Parliament announced initiation of a statute in draft to change the currency, claiming redenominations had helped reduce inflation elsewhere, such as in Turkey. Rls1,000 notes were introduced in 1935, followed by Rls200 notes in 1951 and Rls5,000 and Rls10,000 in 1952. [38], Until 2002, Iran's exchange rate system was based on a multi-layered system, where state and para-state enterprises benefited from the "preferred or official rate" (Rls1,750 for US$1) while the private sector paid the "market rate" (Rls8,000 for US$1), hence creating an unequal competition environment. The USD/IRR rate is up +0.06% (+25.0000) since 28 April 2023 which means the US Dollar has increased in value compared to the Iranian Rial. Skip to Main Content. Cross Name Last High Low Change Chg. % Time ; IRR/EUR: 2.2e-05: 2.2e-05: 2.1e-05 . This offices have trainedemployeesready to be at your service, they are experienced and pretty trustful, and the best thing about currency exchange shops in Iran is that they do fast exchanging! 1.00 AED; US Dollar: 0.272294: 3.672500: Euro: 0.247229: . Iranian official currency isRialwhich is also known asIRR, but in daily payments people mostly useTomansas main circulationmoney and purchasing in Iran! 50 dinar coins were only minted in 1979 and Rls50 coins were introduced in 1980. Our currency rankings show that the most popular Iranian Rial exchange rate is the IRR to USD rate. The official currency is Rial, but Iranians still use the Toman unit when they talk about prices. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. To make it even more complicated, the Iranian currency has two different rates concerning international currencies. Raisi was adamant about removing the official exchange rate, yet his decision has caused much stir in the regime. Traveling to Iranwill be a lot easier if you gain some information aboutIranian currency. Europe. Although described as an (interbank) "market rate", the value of the Iranian rial is tightly controlled by the central bank. This method finally replaced the fixed "export rate" (Rls3,000:US$1) in March 2000, and has since held steady at some Rls8,500:US$1. Last updated: April 28, 2023 at 12:05 AM CET. South Africa currency (ZAR). But the dollar price in Iran is about 250,000rials. Weve been featured in some of the most reputable financial publications in the world, including Business Insider, Investopedia and Coindesk. Iran Exchange Rate (IRR per USD, eop) Inflation rose to 53.4% in February from 51.3% in January. The USD/IRR rate was up +1.02% in 2023. Anyway, the fluctuation is too high. Foreign currencies can be bought or sold at these exchange shops. According toProfessorHamedNajafiAlamdarloofTarbiatModaresUniversity, Estimates show that from 2018 to September 2021, about $46 billion in foreign exchange resources has been allocated to [importers] to preserve the official exchange rate of 42,000 rials for $1. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. The Rial is the currency used in Iran. Inflation and punishing US economic sanctions have effectively cut off Iran from most of the global economy, forcing the government to scramble for foreign currency to pay for humanitarian goods and leaving ordinary Iranians struggling just to get by. This is very much needed given the extreme volatility in global currencies lately. Rls5 notes were last issued in the 1940s, with Rls10 notes disappearing in the 1960s. [27] However, the spread increased again in September 2010 because channels for transferring foreign currency to and from Iran being blocked because of international sanctions. For 2023, one Dollar has equalled. So why would anyone use the NIMA rate if its a worse deal than the open market? Live tracking and notifications + flexible delivery and payment options. Quickly and easily calculate foreign exchange rates with this free currency converter. Yet, the regimes insiders used the official rate to importluxurygoodsthatordinary Iranians could not afford. Banknotes currently in circulation are Rls100, Rls200, Rls500, Rls1,000, Rls2,000, Rls5,000, Rls10,000, Rls20,000, Rls50,000 and Rls100,000. The only condition is to pay an earnest money, depending on your product between 20 percent of the whole price, and we will do the rest process when you are back at home. In preparation for an upcoming redenomination whereby Rls10,000 will become one toman, notes of this series display the numerical value in tomans as well as rials (the latter with the trailing four zeros de-emphasized). For day to day means people will carry wads of Rls100,000 notes. In 1825, the Rial was no longer in circulation and was replaced by the Qiran. This means that every time you visit this website you will need to enable or disable cookies again. In 1932, notes were issued by the "Bank Melli Iran" in denominations of Rls5, Rls10, Rls20, Rls50, Rls100 and Rls500. Rate Cut Bets Increase, US Dollar Slides as US Growth Slows to 1.1%, Euro Tipped for Further Gains Against the Dollar, Pound Sterling say Currency Strategists, Pound Sterling: Break Above 1.2550 Against US Dollar for Further Gains say UOB, Sterling Held in Range, Pound to Dollar Rate Unable to Hold Above 1.25, Daily FX 27.04.23: US GDP and Wall Street Reaction Key for Near-Term Pound vs Euro, Dollar, Currency The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers. The rate was US$1 = Rls 75.75 in 1957. South African Rand exchange rates and currency conversion. Maziar Motamedi. [32], The unofficial rial to US dollar rate underwent severe fluctuations in January 2012 (the rial losing 50% of its value in a few days, following new international sanctions against the CBI), eventually settling at Rls17,000 at the end of the period. Having two currency makes Iranian tourists confusing in their payments and cost accounting. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. It was first introduced to the public in 1798. 2. [90] However Rls500,000 and Rls1,000,000 Iran Cheques circulate freely and are treated as cash. [91][92], In 2008, CBI revoked this privilege from banks, and currently issues its own Iran Cheques in denominations of Rls500,000, Rls1,000,000,[93] and Rls2,000,000. We should be careful that other protests, like the ones in 2019, do not repeat do the skyrocketing prices.. Select a currency IRR - Iranian Rial Iranian Rial Stats Iranian Rial Profile The NIMA exchange rate places a higher value on the rial than the open market rate. Latest daily average exchange rates. Sometimes people do not mentionthousand or million. You may opt out of personalized ads by unchecking the marketing cookies. Countries using the ISO 4217 Currency Code IRR: Whether you are going on holiday and after travel money rates or looking to carry out Iran Rial exchange, it pays to keep informed. Minting of all denominations below 25 dinars ended in this year. The most common banknotes you will see in Iran are 5000, 10000, 20000, 50000, 100000, 500000, and 1000000 Rials.You also will probably see coins in value of 1000, 2000, and 5000 Rials. The Iranian rial was a currency in use in what is now the nation of Iran (formerly Persia) as far back as 1798. The official exchange rate was introduced in 2018 by Hassan Rouhanis government to control the fluctuating currency rate. Digital Rial or Iran's National Currency is a type of currency that according to the announcement of the Central Bank of the Islamic Republic of Iran, Its release is based on the Modern Rial.[63]. Raisi To Eradicate Poverty in Two Weeks in Iran! The official rate is meaningless on the street, however; in reality, the value of the rial is far lessthis week, it was trading at 120,000 to the dollar on the black market. Please note that the open market or free-market exchange rate in Iran is different from the official Iranian currency rate. [49], Because of the current low value of rial, and that people rarely use the term, redenomination or change of currency has been proposed a number of times since the late 1980s. The exchange rate was 1 = Rls 80.25 in 1936, 1 = Rls 64.350 in 1939, 1 = Rls 68.8 in 1940, 1 = Rls 141 in 1941 and 1 = Rls 129 in 1942. The highest USD/IRR exchange rate in 2023 was 42,350 Iranian Rials per US Dollar on 21 February 2023. What have multiple rates done to the Iranian economy? The USD/IRR rate was up +0.96% in 2023. eoples ever-shrinking tables would demonstrate the impact of this decision. to GBP, IRR In case you want to buy an expensive souvenir and you dont have the whole amount, you can absolutely use DHL service to have it in your hometown and we will help you with the payment in your country. Our currency rankings show that the most popular Iranian Rial exchange rate is the IRR to USD rate. through the Iran Mercantile Exchange.[46]. People can now buy and sell real estate with crypto on what's being billed as the first US bitcoin property marketplace. The currency symbol is . against an official rate of 42,000. . Eshagh Jahangiri, Rouhanis vice president, first announced the existence of 42, a dollar exchange rate. Check the currency rates against all the world currencies here. At the same time, the government will not fulfill its obligations, Alireza Pak Fetrat, MP from Shiraz, said on March 6, In response, Mohammad Bagher Ghalibaf, the parliament speaker, acknowledged that, According to the semi-official ISNA News Agency on March 6, the regimes parliament has authorized Ebrahim Raisis government to remove the official exchange rate on the condition, sources for compensating the difference for, import of basic goods, medicine, and medical equipment.. In Iran money exchange centers, transforming your money from foreign currency to Rial will take only a few minutes, 15 minutes at most. The currency exchange rate in Tehran's open market has exceeded 30,000 tomans. NIMA was established to make sure the CBI has enough foreign currency to pay for imports of food, medicine and other humanitarian goods even when the Iranian rial rapidly depreciates. IRR. View US Dollar to Iranian Rial exchange rate history for 2023-4-28 as well as high, low and average USD/IRR exchange rates for 2023. updated Compare various denominations for the US Dollar / Iran Rial exchange rate conversion on the 28th April 2023 using the data table below. Need to know when a currency hits a specific rate? This currency rates table lets you compare an amount in Iranian Rial to all other currencies. The table below shows an overview of countries and territories that use the Iranian Rial as their official currency: Country Geographic Location GPD Population (live) Area; Iran: More than this amount is only with Bank services and similar money transporting companies possible. The dollar peg was dropped in 1975. Rate unification was in fact one of his campaign promises and the administration was steadily bridging the gap between the official and the open market rates before US sanctions hit. In a hawala transfer, dealers operate in a network built on trust. The official exchange rate is 42,000 rials to $1. Texas properties are the first listed on a new platform allowing people to use bitcoin to buy residential and commercial real estate in the US. The days and weeks leading up to Monday's change had witnessed a sharp decline of the Iranian rial, accelerating a trend that began in late . In this article we will explore the history of the Iranian rial and its current value against other currencies. Nationwide Uprising of the Iranian People, National Council of Resistance of Iran (NCRI) | Parliament in Exile, Human Rights: The Inhumane Regime of Iran, Iran: Diplomatic Terrorism, Anatomy of Irans State Terror, Maryam Rajavis Ten Point Plan for Future Iran, Iran: Hastily Approval of Removing Official Exchange Rate and Its Consequences, flip-flop, the Iranian regimes parliament hastily approved eliminating the official exchange rate of 42, endless debates and different warnings by regime officials about. There is no official symbol for the currency but the Iranian standard ISIRI 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it. Rls20 coins were introduced in 1972. Iranian Currency Exchange Rate (Updated price) USD to Rial - Friendlyiran Iran Currency Converter Amount From Convert 1 USD = 100,000,000 IRT 10,000,000 IRR Live Iran Rial (IRR) Exchange Rates Today cURL Error #:Failed to connect to api.tgju.online port 443 after 98 ms: Couldn't connect to server 2. This means the US Dollar increased in value compared to the Iranian Rial. Marketing cookies are used to track visitors across websites. Your financial situation is unique and the products and services we review may not be right for your circumstances. USD, 1 USD = 41,666.666666667 US Dollar is around 10,000 Tomans / 100,000 rials (These rates are correct as of time of writing) 29/july/2018. The "official rate" of the Iranian rial-1,750 per U.S. dollar-applied to oil and gas export receipts, imports of essential goods and services, and repayment of external debt. Get The Best Rates With xe Via Xe's website Iranian Rial to United States Dollar conversion - Last updated Apr 30, 2023 02:22 UTC Result 0.000024 United States Dollar 1 IRR = 0.000024 USD 1. In July 2013, after Rial falling to its all time low of around 40,000 to 1 US dollar - the Central Bnk of Iran upgraded its official exchange rate from 12,284 to a more reasonable 20,750 and in August to 24,500 but still well below the actual street exchange rate. The Iranian currency plummeted to an all-time low against the US dollar on Sunday amid soaring inflation and a nuclear deal standoff. Overall risk conditions remained more fragile during Wednesday with further reservations surrounding, International . Iran's gold and currency markets Iran's gold and currency markets, Gold market and currency exchange in Iran - Part I, https://en.wikipedia.org/w/index.php?title=Iranian_rial&oldid=1151174696, CS1 maint: bot: original URL status unknown, Articles with dead YouTube links from February 2022, Articles containing Persian-language text, Articles with unsourced statements from October 2015, Articles with unsourced statements from October 2020, Articles with unsourced statements from July 2021, Creative Commons Attribution-ShareAlike License 3.0, Rls10,000, Rls20,000, Rls50,000, Rls100,000, Rls500,000, Rls1,000,000, Rls2,000,000, Also known as: 10,000 Dinar, 200 Shahi, 100 Mahmoudi (Sannar), 50 Abbasi, 20 Naderi, 10 Qiran, 8 Rial, Also known as: 200 Dinar, 4 Shahi, 2 Mahmoudi/Sannar. Hossain Noshabadi, a member of the Majlis National Security Commission, claimed on March 6 that Raisis government would allocate 250,000 trillion rials in the form of electronic coupons, or $9 billion based on the current exchange rate to help people and control another currency shock. to COP, IRR The so-called Preferred currency was supposed to be used to import the countrys essential materials, most notablyfooditems and medicine. The currency symbol is $. Got it. This is the exchange rate that most accurately reflects how many rials it takes to buy one US dollar. Ethereum drops 7% amid wider crypto sell-off as traders assess rate uncertainty. to XRP, IRR In 2002 the "official rate" a/k/a "preferred rate" (Rls1,752:US$1) was abolished, and the TSE rate became the basis for the new unified foreign-exchange regime. The state ownership of oil export earnings and its large reserves, supervision of letters of credit, together with current and capital outflow account outflows allows management of demand. Surveys show that based on the free-market exchange rate in that year, the importers embezzled around 5.1 quadrillion rials., Corruption due to this currency is estimated at 5.9 quadrillion rials. Major pairs by Geographic Location. If the modern history of the Iranian economy is any indication, yes. Secondly, the Iranians say prices in Toman. The Iranian currency, the rial, lost 8% against the dollar in one day this week. In response to an escalating currency crisis in April 2018, the administration ofIranian President Hassan Rouhaniartificially unifiedthe open market rate with the official exchange rate and declared that using all other rates outside that unified rate was tantamount to smuggling. Depending on whether the monetary aggregate is defined as M 1 or M2, and the exchange rate as official (OEX) or black market rate (BEX), variants of Equation (1) are subject to empirical analysis. Is there a chance more exchange rates will emerge? In contrast, the free market rate is determined by the market forces of supply and demand. [18], A proposal has been agreed to by the Iranian Parliament to drop four zeros, by replacing the rial with a new currency called the toman, the name of a previous Iranian currency, at the rate of 1 toman = 10,000 rials.[19]. [37], The value of Rial has dropped by 29% since the nationwide protests that began on September 16, following the death of Mahsa Amini, a 22 year old Kurdish-Iranian woman in police custody. [citation needed], It was reported in 2007 that a U.S. Central Intelligence Agency (CIA) plan had been authorized to manipulate the Iranian rial in order to destabilize the country, though the details and outcome of said plan are not known. 2023 Forbes Media LLC. [61], In 2013, talking about the sanctions against Iran, US Senator Carl Levin said that "Iranian Rial banknotes are printed in Europe".[62]. The sudden removal of the official exchange rate is harmful and could result in many problems for people. Most popular currency exchange rate conversion pairs. These are the rate when you buy (today) from the sellers, if you want to sell them your own foreign currency they are abit lower. That may create a fourth rate in the short term, although it may also nudge the country towards true rate unification. [28][29], Monetary policy is facilitated by a network of 50 Iranian-run forex dealers in Iran, the rest of the Middle East and Europe. What Is the Iranian Rial? The two exchange rates of Iran: the government rate and the regular exchange rate. There are some other types of cards which tourists can have them and are easier, ask our Friendly agent to know about them. [50] The Rls10,000 note remained the highest valued banknote for more than 50 years until 2005, when a Rls20,000 banknote was introduced and subsequently a Rls50,000 banknote was introduced with the subject being the Iranian nuclear energy program. Historically, however, the Central . In March 2002, the multi-tiered system was replaced by a unified, market-driven exchange rate. It should be noted that the total development budget for 2021-2022 is about 1.4 quadrillion rials, he added, according to the state-run Keyhan daily on November 10., 2021. This website uses cookies so that we can provide you with the best user experience possible. Opponents of redenomination are wary of more inflation resulting from psychological effects, and increase in velocity of money leading to more instabilities in the economy of Iran. Rls2,000 and Rls5,000 rial coins in 2010. Candlestick chart. Live Iranian Rial (IRR) exchange rates in Iran's free market Gold Ounce $ Gold Gram Toman Gold Mithqal Toman Coin Emami Toman / IRR Toman Toman Iranian Rial Exchange Rates. to BRL, IRR How much does it take to exchange money in Iran? Since the Rouhani government did not have enough currency, it started banknote printing, thus increasing liquidity. Iran Exchange Rate against USD data is updated monthly, available from Jan 1957 to Mar 2023. Its less expensive than moving money through the formal banking system, and globally, its very popular with migrant workers who want to send remittances home. In 1979, Rls 70 equalled USD 1. On Monday night the government stepped in, removing the discrepancy between the exchange rate used by traders . Besides all the bad effects on the economy in general, this had the effect of boosting the competitiveness of Iran's domestic industries abroad. On April 28, 2023 the Official USD to IRR Exchange Rate: Close: 1 USD = 42250 IRR. The Iranian rate of exchange is changing day to day and even hourly according to Iran economic system and politic relations, a little information from our friendly agent would help you to find the best way to exchange your currency into Rial. Send money online fast, secure and easy. The currency code for US Dollars is USD. Many of the essential goods are imported using this rate. Eliminating the official exchange rate will have dangerous consequences. The cryptocurrency values displayed on our site are aggregated from millions of data points and pass through proprietary algorithms in order to deliver timely and accurate prices to our users. Year average. Rls250 coins were introduced the following year. In fact, the CBI is expected to soon launch a regulated foreign exchange market that at least at first will deal in macro cash deals to discover true rates. The value of the rial declined precipitously after the Islamic Revolution because of capital flight from the country. Subscribe to daily exchange rates, The Pound Australian Dollar (GBP/AUD) exchange rate traded flatly on Thursday, as an uptick in Australian export prices underpinned the Aussie. They were printed in denominations of Rls200,000, Rls500,000, Rls1,000,000, Rls2,000,000 and Rls5,000,000. On April 29, 2023 the Official USD to IRR Exchange Rate: Close: 1 USD = 42248 IRR. The Dollar exchange rate reached 80,000 . [55][56][57][58], A website to poll the public on the redenomination plan was launched July 21, 2011; the public was allowed to vote on how many zeroes to cut and what the new currency's name should be. Iranian authorities in recent days devised ways to show that the national currency was actually rising against major currencies as its diplomats met representatives of major powers to . All Rights Reserved. Suppose the government suddenly removes or suspends the official rate. The rial replaced the qiran at par in 1932, subdivided into 100 new dinars. We partner with the most popular currency and cryptocurrency data providers worldwide to bring you the most recent quotes for all major cryptocurrencies. The unofficial exchange rate for the pound to rial is around 370,000 IRR in a free market. The move came following endless debates and different warnings by regime officials aboutthe consequences of this decision, such a measure was wrapped up in less than 2two minutes! to CAD, IRR Importing Iranian currency to Iran, for tourists who are visiting is up to 500,000 IRR (Iran Rials), or its equivalent in other currencies. Not so well. If the purchase of those goods werent subsidised through the official exchange rate, the end purchasers of those essential products could see sudden, dramatic price jumps and be unable to afford those goods. This means the US Dollar increased in value compared to the Iranian Rial. to AED, IRR A little over a century later, in 1932, the nation of Iran returned to the rial as its official currency, with a 1:1 exchange rate of qirans for rials. The parliament got tired after 15 days of reviewing the plan to eliminate the official exchange rate, and you exploited this situation to approve the removal of the official exchange rate in two minutes. This means the US Dollar increased in value compared to the Iranian Rial. "They have limited foreign exchange . We suggest to have the most decent exchange rate (buying or selling), compare few exchange shop's rates and go for the best one. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. [60] Iran reported arresting 20 "Forex manipulators" in 2012. Learn more today. De-dollarization is underway and Congress must pass stablecoin bill to boost greenback's competitiveness, Circle CEO says, Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges, El marketplace de NFT Blur lanz su plataforma de prstamos peer-to-peer llamada Blend, Bitcoin Set New Record of Daily Transactions the Same Day the U.S. Government Quietly Engineered a Bank Buyout, Russia's economy isn't facing disaster anytime soon as weapons production compensates for GDP losses, Ukrainian strategist says, Sotheby's Launches On-Chain Secondary NFT Marketplace, Registration on or use of this site constitutes acceptance of our. this page allows you to not only check the latest exchange rates Iran Rial today, but also the Iran Rial exchange rate history in more detail. In 1825, the rial was replaced by the Qiran at an exchange rate of 10 rials for 1 qiran. They are not transactional rates. The first Iranian rial replaced the Persian gold kran at a rate of 1 rial = 10,000 krans.

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