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.
28/07/2016: Bank of Japan announces stimulus package
The Bank of Japan announced an aggressive stimulus package and negative interest rates, causing the Yen to depreciate against major 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).
11/03/2011: Great East Japan Earthquake
The Tohoku earthquake and tsunami devastated Japan, leading to a decline in the Yen as reconstruction efforts strained the economy.
15/09/2008: Lehman Brothers bankruptcy
The bankruptcy of Lehman Brothers triggered a global financial crisis, resulting in a surge in the value of the Yen as investors sought safe-haven assets.
20/03/1995: Kobe earthquake
The Great Hanshin earthquake struck Kobe, causing significant damage to the Japanese economy and leading to a decline in the value of the Yen.
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.
22/09/1985: Plaza Accord
Japan, along with major economies, agreed to depreciate the value of the US dollar, leading to the appreciation of the Yen.
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.
01/03/1973: Yen becomes a floating currency
The Yen lost its fixed exchange rate and started floating against major currencies following the collapse of the Bretton Woods 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.
15/12/1953: Yen is introduced
The Japanese Yen was first introduced as the official currency of Japan with the enactment of the Bank of Japan Act.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.