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.
17/06/2018: Introduction of New Banknotes
A new series of UAE dirham banknotes, featuring enhanced durability, 3D security features, and tactile marks for visually impaired individuals, is introduced.
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).
01/01/2007: Security Enhancements
New security features, including holograms and advanced anti-counterfeiting measures, are added to the UAE dirham banknotes.
01/12/2002: Introduction of Modern Coinage
A new series of UAE dirham coins, featuring modern designs and security features, is introduced.
20/03/1995: Currency Peg to US Dollar
The UAE dirham is pegged to the United States dollar at a fixed exchange rate of 1 USD to 3.6725 AED.
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.
01/01/1978: Currency Issuance Authority
The UAE Currency Issuing Authority is established, granting the authority to issue and manage the UAE dirham.
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.
28/01/1973: Decoupling from Pound Sterling
The UAE dirham is officially decoupled from the British pound sterling and a new exchange rate is set.
02/12/1971: Formation of UAE
The United Arab Emirates is formed, resulting in the introduction of the UAE dirham as its 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.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.