Exchange 2980 IRR to ZAR - 2980 Iranian Rial to South African Rand
The Iranian rial (Persian: ریال ایران Riâl Irân; ISO 4217 code IRR) is the currency of Iran.Although the "toman" (تومان tumân) is no longer an official unit of 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.g., "10,000 rials," even though the clerk, if asked, would say that the bread costs "1000 tomans". 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. The Unicode Standard has a compatibility character defined U+FDFC ﷼ Rial sign (HTML ﷼). 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. In December 2016, the Iranian government announced the country's currency would be changed from the rial to the commonly used toman. Such a move requires the approval of the Iranian Parliament.
The rand (sign: R; code: ZAR) is the currency of South Africa. The Rand is subdivided into 100 cents (sign: "c"). The ISO 4217 code is ZAR, from Dutch Zuid-Afrikaanse Rand (South African Rand). The Rand is legal tender in the Common Monetary Area between South Africa, Swaziland, Lesotho, and Namibia, although the last three countries do have their own currencies pegged at par with rand. Before 1976, the rand was legal tender in Botswana.
2980 Iranian Rial to South African Rand exchange rates chart
2980 IRR to ZAR Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.
2980 Iranian Rial to South African Rand Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.
IMF sees inflation in Iran breaching 40% by year’s end. Repeating its warning that the country’s sanctions-triggered recession will worsen, the Fund also urges Tehran to align official currency-exchange rates with black market rates.
Those who find themselves in emergency situations on the West Rand could be in more trouble than they think because protesting municipality workers are preventing critical services from being carried out.