This article’s images may require forex trading bbc vietnamese of image placement, formatting, and size. Iranian currency, Iranians commonly express amounts of money and prices of goods in “tomans”.
For this purpose, one “toman” equals 10 rials. Despite this usage, amounts of money and prices of goods are virtually always written in rials. For example, the sign next to a loaf of bread in a store would state the price in rials, e. The Iranian rial was devalued in July 2013 to half its previous value as the government reduced subsidisation of the exchange rate against the dollar. The rial was first introduced in 1798 as a coin worth 1,250 dinars or one eighth of a toman.
The Iranian rial remained relatively stable against the US dollar up until late 2011 when it lost two-third of its value within two years. 8 in 1940, 141 in 1941 and 129 in 1942. In 1945, Iran switched to the U. The value of Iran’s currency declined precipitously after the Islamic revolution because of capital flight from the country. Injecting sudden foreign exchange revenues in the economic system forms the phenomenon of “Dutch disease” in a country. Iranian rial is tightly controlled by the central bank.