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.
29/12/2014: 1 US Dollar = 3.891 Israeli Sheqel
The Israeli Sheqel (ILS) reaches a historical low against the US Dollar in the foreign exchange market.
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).
04/05/2008: Introduction of New Banknotes
New Israeli Sheqel (ILS) banknotes with enhanced security features were issued.
01/09/1999: Introduction of Sheqel Coins
Israeli Sheqel (ILS) coins were introduced, replacing the agora as the subunit of the currency.
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.
24/02/1985: Hyperinflation Crisis
Israel experiences hyperinflation, leading to the introduction of the new Israeli Sheqel (ILS).
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.
16/03/1960: Introduction of the New Sheqel
The old Israeli pound (ILP) was replaced by the new Israeli Sheqel (ILS) as the official currency.
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.
24/02/1949: Introduction of the Israel Pound
The Israeli pound (ILP) was introduced as legal tender in Israel.
24/09/1948: Israeli Declaration of Independence
The Israeli pound (ILP) was introduced as the official currency of Israel.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.