18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
23/02/2020: COVID-19 Pandemic's Impact on the Iranian Rial
The COVID-19 pandemic, along with economic challenges, caused further depreciation of the Iranian Rial (IRR) against major currencies.
10/04/2018: Revaluation of the Iranian Rial
Iran's government announced a new currency exchange rate, devaluing the Iranian Rial (IRR) against foreign currencies.
24/09/2012: Imposition of International Sanctions on Iran
International sanctions were imposed on Iran, leading to a significant decline in the value of the Iranian Rial (IRR).
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
24/05/1989: Introduction of the Two-Tier Exchange Rate System
Iran implemented a two-tier exchange rate system, with different rates for essential goods and non-essential imports.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
26/10/1975: Floating of the Iranian Rial
The Iranian Rial (IRR) was allowed to float against foreign currencies, marking the end of the fixed exchange rate system.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
01/09/1957: Decimalization of the Iranian Rial
The Iranian Rial (IRR) was decimalized, dividing one Toman into 10 Rials to simplify the currency system.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.