Iranian Rial

Iranian Rial

Iranian Rial overview

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.

1 IRR to USD exchange rates chart

IRR to  exchange rates chart

Iranian Rial exchange rates table

Iranian Rial news

Is US’ new Middle East strategy viable

US Secretary of State Mike Pompeo during a tour of the newly inaugurated Al-Fattah Al-Alim mosque in Egypt’s new administrative capital, east of Cairo. (AFP)

2 days conditional neutral
OFAC Adds Iranian Bitcoin Exchangers' Names And Wallet Addresses To SDN List, Ushers In "New Approach" To Sanctions Enforcement - International Law - Worldwide

OFAC notes that either method would be satisfactory so long as there is an audit trail to permit the digital currency to be unblocked in the future. Worldwide International Law Akin Gump Strauss Hauer & Feld LLP 14 Jan 2019

4 days indicative neutral
Iran’s proposed budget betrays economic crisis

At the end of each year, the Iranian government proposes a budget bill in the country’s parliament (Majlis). After the bill is passed there, a clerical body also has to approve the legislation. Consequently, Iran’s Central Bank will present monetary and credit policies that correspond with the budget.

5 days conditional neutral
Afghan migrants returning from Iran reach record high in 2018

Abdul Hakim, 28, had just found a job in Iran after a month of searching when he was detained and kicked out. He faces an uncertain future as he tries to find a way to support his wife and three young children.

9 days indicative neutral
OUTLOOK 2019 Iran

The Islamic Republic’s fate is wrapped up in that of Donald Trump. To throttle Iran’s economy he’ll need to stay able to project his power.

14 days conditional neutral
Privatisation in store for Iran’s two biggest football clubs

Privatisation in store for Iran’s two biggest football clubs. Officials to offer Tehran’s Persepolis and Esteghlal, known for contesting the Red-Blue Derby.

about 1 month conditional neutral
PressTV-Dollar down as Iran’s Rial regains lost values
PressTV-Dollar down as Iran’s Rial regains lost values

The US dollar went on a downhill spiral in Monday trading in Iran’s free currency market by experiencing a historic plunge of above 20 percent within only hours.

about 1 month indicative neutral
Iran’s judiciary chief warns protesting workers not to overstep the mark

Iran’s judiciary chief warns protesting workers not to overstep the mark. Workforce of Haft Tapeh Sugar Refinery in Susa gains something of a heroic status after mounting a march to demand the state pay their wage arrears.

about 1 month subjunctive positive
Iranian warehouse owner busted for hoarding 834 tractor tyres

Iranian warehouse owner busted for hoarding 834 tractor tyres. Amid the profiteering opportunities found in the sanctions-hit economy, police are seizing everything from televisions to rice.

about 1 month indicative negative
US Treasury Department Sanctions First Bitcoin Addresses
US Treasury Department Sanctions First Bitcoin Addresses

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned the Bitcoin addresses of two Iranians the office says

about 2 months conditional neutral

IRR currency converter