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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" (Rls 1,750 for US$1) while the private sector paid the "market rate" (Rls 8,000 for US$1), hence creating an unequal competition environment.
US dollar/Iranian rial historical exchange rates (2003–2013) Iran's population reached 70 million in 2006. More than half of the Iranians are under the age of 30, and the literacy rate stands above 80%.
The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes. [4] At its peak, the kyat traded for as high as Ks. 850/- per USD. [5]
By not following the US devaluations in 1971 and 1973, the official rate rose to US$3.3778, before a 5% devaluation reduced its rate to US$3.2169, a rate which remained until the Gulf War in 1990, although in late 1989 the black market rate was reported at five to six times higher than the official rate.
Efforts to control inflation rates were set forth by the government through a three-tiered-multiple-exchange-rate; [114] this effect has failed to prevent the rise in cost of basic goods, simultaneously adding to the public's reliance on the Iranian black-market exchange rate network. [113]
Amounts. Foreign direct investment in Iran, net inflow. Foreign investment plans in Iran amounted to $4.3 billion in 2011, showing an 11% growth year-over-year. [13] Stock of FDI in Iran equaled $16.82 billion (at home) and $2.075 billion (abroad) according to The World Factbook statistics in 2010.
In 2008, the total insurance premiums generated in Iran were $4.3 billion. This is less than 0.1% of the world's total, while Iran has approximately 1% of the world's population. The insurance penetration rate is approximately 1.4%, significantly below the global average of 7.5%.
The United States imposed sanction of 1995 bans aviation companies from selling aircraft and repair parts to Iranian airlines. Iranian registered commercial airplanes (such as this Iran Air Boeing 747-100B for example) were also banned from entering U.S. airspace due to the sanctions. The United States has since 1979 applied various economic ...