01/01/2023: Planned Fourth Redenomination of Ariary
Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.
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.
01/01/2017: Third Redenomination of Ariary
The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.
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).
01/08/2003: Second Redenomination of Ariary
The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.
16/12/1993: First Redenomination of Ariary
The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.
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.
01/01/1983: Introduction of Malagasy Ariary
The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.
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.
26/06/1975: Independence of Madagascar
Madagascar declares independence from French colonial rule, leading to changes in the national currency.
26/06/1961: Introduction of Malagasy Franc
Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.
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.