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A proposal has been agreed to by the Iranian Parliament to drop one zero at the end of number, 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] As of 2024, the Iranian rial is the world’s least valuable currency, worth less than the Sierra Leonean ...
The rial traded at 777,000 rials to the dollar, traders in Tehran said, down from 703,000 rials on the day Trump won. Iran’s Central Bank has in the past flooded the market with more hard ...
In 2015, during Iran’s nuclear deal with world powers, the rial was at 32,000 to $1. On July 30, the day that Iran’s reformist President Masoud Pezeshkian was sworn in and began his term, the rate was 584,000 to $1. Trump unilaterally withdrew America from the accord in 2018, sparking years of tensions between the countries that persist today.
The Iranian toman (Persian: تومان, romanized: tūmân, pronounced [tuː.mɒːn]; from Turko-Mongolian tümen "unit of ten thousand", [1] [2] [a] see the unit called tumen) is a superunit of the official currency of Iran, the rial. One toman is equivalent to 10 (old), or 10,000 (new, official) rials. [8] Originally, the toman consisted of ...
The Iranian Food and Drug Organization of Iran has reported shortages of many essential drugs in the country. [1] Reports of the crisis began emerging in 2013. [2] The crisis intensified in 2022 when Ebrahim Raisi’s administration removed the 42,000-rial exchange rate for the US dollar. [3] Inflation further compounds the issue. [1]
The Iranian rial hit a record low against the U.S. dollar on the unofficial market on Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States.
The rial plunged to 820,500 to the dollar on the unofficial market, compared to 808,500 rials on Friday, according to Bonbast.com, which reports exchange rates.
In early April, with the rial sinking to record lows before U.S. President Donald Trump's decision to exit the Iran nuclear deal, Tehran said it was unifying official and free-market rates for the ...