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).
10/09/2008: Introduction of Birr Denominations
Ethiopia introduced new banknotes of different denominations in an effort to combat counterfeiting and improve security features.
27/05/1991: Introduction of Birr Coins
Ethiopia introduced coins for the birr denominations, replacing the previous notes.
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.
17/09/1976: Introduction of New Birr
A new birr was introduced, replacing the previous Ethiopian birr and being equal to 100 old birr.
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.
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.
08/07/1945: Decree to Change Birr Decimalization
Ethiopia changed the birr decimalization from talari and ghersh to dollars and cents.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.
31/12/1931: Introduction of Ethiopian birr
The Ethiopian birr was introduced as the official currency, replacing the Maria Theresa Thaler.
05/07/1931: Ethiopian Monetary Authority Established
The Ethiopian Monetary Authority was established to regulate the country's monetary system and issue currency.
14/02/1894: Introduction of Maria Theresa Thaler
Ethiopia adopted the Maria Theresa Thaler as the official currency, which remained in circulation until 1935.