Iranian rial

Rial
Country:	Iran
Subdivision:	100 dinars (earlier)
ISO 4217 code :	IRR
Abbreviation:	Rl.
Exchange rate : (29 Mar 2020)	1  EUR  = 46,820.9 IRR 10,000 IRR = 0.214 EUR 1  CHF  = 43,509.804 IRR 10,000 IRR = 0.23 CHF

100 rials banknote (1981)

The Iranian rial , Persian ریال, DMG riyāl , replaced the toman as the currency of Iran in 1925 . The ISO code is IRR, as a local abbreviation, Rl. used.

The name Rial ( Riyāl ; outdated also referred to as Gherān ) is derived from the Spanish real , which was the currency in Spain for several centuries (Spanish real means "royal").

10 rials are (sometimes officially) referred to as (a) toman , the name of the old Persian currency. 100 dinars used to make one rial.

In December 2016, the government decided to replace the rial with the toman, which was the national currency until 1925. Since ten rials correspond to a toman, a zero will be deleted when the price is changed.

There are currently three parallel exchange rates for the rial.

• The first is the reference rate, which used to be used by companies and airlines to obtain inexpensive US dollars for international business. After the reform in autumn 2012, this course became less important. In 2016, one euro was worth 3,447 toman and one US dollar was worth 3,215 toman.
• The second rate is the non-reference rate as the official currency exchange rate. It is about twice as high as the reference rate , i.e. that is, twice as many rials have to be paid for one US dollar.
• The third course is the black or gray market rate for cash in markets. Before autumn 2012, average prices on the Tehran market determined this rate semi-officially. Today the government restricts the use of this rate, but the local currency is still exchanged on the market.

In January 2013 z. E.g. the rate of the rial was 42,900 / €, while the non-reference rate was around 33,000 / €. On May 1, 2019, the gray market price was 162,600 rials for one euro.

In the past, coins of 50, 100, 250 and 500 rials were minted and used, with the 500 rial coin being a bimetal coin.

Today (as of January 2020) coins of 1000, 2000 and 5000 rials are in circulation. The use of coins is rather insignificant in the tourist sector, as all larger amounts, such as purchases in the bazaar or taxi rides, are calculated in such a way that they can be paid with the usual bills. In the supermarket or greengrocer, where the price is determined by weight, coins are a common means of payment in addition to banknotes.

Banknotes

There are banknotes of 1000, 2000, 5000, 10,000, 20,000, 50,000 and 100,000 rials in circulation, whereby the notes from 10,000 rials are common, the smaller ones are rarely available, also because of their low value (January 2020: 10,000 rials correspond to around 0, 07 €). The 50,000 rial note with the atomic symbol on the back was introduced on March 3, 2007. On June 22, 2010, the 100,000 rial note appeared to curb check traffic. Since the 100,000 rial note is still of rather low value (January 2020 approx. € 0.70) and many notes are required for normal use, the central bank also issues “Iran Checks”, which are used like cash in everyday use , they also look like regular cash bills. You only find the additional lettering "Iran Check" on these. In the past, such checks were also issued by other banks, since 2008 only the Iranian Central Bank has been allowed to do so . There are currently two denominations of 500,000 and 1,000,000 rials, these are used regularly in payment transactions.

Course development

Rate for one euro in rials	December 31, 2012	December 31, 2013	December 31, 2014	December 31, 2015	December 31, 2016	December 31, 2017	December 31, 2018	December 31, 2019
Official exchange rate	16,175	15,493	32,831	32,604	31,643	42,770	48,384	47,262
Gray market rate (estimated)	42,600	41,000	42,000	40,100	41,700	52,500	129,000	148,500

Individual evidence

1. ↑ Bozorg Alavi , Manfred Lorenz : Textbook of the Persian language. Langenscheidt, Leipzig etc. 1967, 7th edition, ibid 1994, ISBN 3-324-00253-2 , p. 267 f.
2. ↑ Helmut Kahnt, Bernd Knorr: Old dimensions, coins and weights. A lexicon. Bibliographisches Institut, Leipzig 1986, licensed edition Mannheim / Vienna / Zurich 1987, ISBN 3-411-02148-9 , p. 376 (100 dinars = 1 rial = 1/10 toman).
3. ↑ http://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/toman-ersetzt-rial-iran-aendert-landeswaehrung-/14947720.html
4. ↑ http://en.trend.az/capital/business/2107546.html
5. ↑ bonbast.com: Live exchange rates in free market of Iran. Accessed May 1, 2019 . 
6. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2012-exchange-rate-history.html
7. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2013-exchange-rate-history.html
8. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2014-exchange-rate-history.html
9. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2015-exchange-rate-history.html
10. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2016-exchange-rate-history.html
11. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2017-exchange-rate-history.html
12. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2018-exchange-rate-history.html
13. ↑ https://www.exchangerates.org.uk/EUR-IRR-31_12_2019-exchange-rate-history.html
14. ↑ https://www.bonbast.com/historical/eur/2012/12
15. ↑ https://www.bonbast.com/historical/eur/2013/12
16. ↑ https://www.bonbast.com/historical/eur/2014/12
17. ↑ https://www.bonbast.com/historical/eur/2015/12
18. ↑ https://www.bonbast.com/historical/eur/2016/12
19. ↑ https://www.bonbast.com/historical/eur/2017/12
20. ↑ https://www.bonbast.com/historical/eur/2018/12
21. ↑ https://www.bonbast.com/historical/eur/2019/12