25/02/2020: Introduction of New Large Denomination Banknotes
Uzbekistan introduced new 100,000 and 200,000 som banknotes to meet the requirements of the growing economy and reduce cash circulation.
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.
08/02/2019: Exchange Rate Unification
Uzbekistan unified the official and black-market exchange rates, allowing for more transparency in currency transactions.
03/09/2018: Denomination of Uzbekistani Som
Uzbekistan announced a 1:10,000 denomination of the som, as part of ongoing currency reform.
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.
05/09/2017: Floating Exchange Rate Regime
Uzbekistan transitioned to a floating exchange rate regime, allowing the Uzbekistani Som's value to be determined by market forces.
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).
10/03/2001: Introduction of New Uzbekistani Som
Uzbekistan introduced a new som, with 1 new som equaling 1,000 old soms, as a result of currency reform.
01/07/1994: Redenomination of Uzbekistani Som
Uzbekistan redenominated its currency, with 1 new som replacing 1,000 old soms to combat hyperinflation.
01/07/1993: Introduction of Uzbekistani Som
Uzbekistani Som (UZS) was introduced as the official currency of Uzbekistan after the country gained independence from the Soviet Union.
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.
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.
01/04/1932: Introduction of the Iranian Rial
The Iranian Rial (IRR) was introduced as the official currency of Iran after replacing the Qiran.