Iran's monetary unit: the history of development

The monetary unit of Iran changed during the historical development of this state. Each of the currencies was quite stable and ensured the possibility of uninterrupted payments for goods.

What currencies in Iran have been in history?

Until 1798 the main monetary unit of Iran was the dinar. After the monetary reform of 1798, all calculations were already made in rials. But that moment the exchange of the old currency for a new one took place at the rate of 1: 100.

The first experience of using rials was probably negative, so in 1825 the country's leadership is carrying out another financial reform. The new currency of Iran was called fog. The minimum unit of account for this currency was 10 taps.

In 1932, Iran once again decided to conduct a monetary reform. The main reason for this decision is huge inflation, caused by the impact of the global economic crisis on the country's economy.

Iranian real: denominations and appearance (before the Islamic Revolution)

The monetary unit of Iran today goes both in monetary and in banknote form. And the values are mostly duplicated. Arriving in Iran, a tourist can meet coins worth between 50 and 5000 rials. The National Bank of the Islamic Republic of Iran has issued banknotes ranging from 100 to 100,000 riyals since 1932 to the present day.

If you analyze the appearance of banknotes, you can identify several stages of the evolution of rial in the 20th century. As you know, until 1979, Iran had a monarchical form of government. On the bills issued from 1932 to 1943, Shah Reza Pahlavi was depicted. His face was necessarily placed on the front side of the banknote. In 1944, the ruler changed in Iran - the successor to Mohammad Reza came to the throne. Now on the bills began to depict his photograph. The peculiarity of the images was that the later a bill was issued, the more the adult image of the shah appeared on it.

How did the currency change after the Islamic Revolution?

After 1979, the state completely changed the system of power and government. The change in the type of currency will be considered with the example of the notes issued after 1992. On all face values, the leader of the 1979 revolution Ayatollah Khomeini is depicted on the front side. But interesting images are also placed on the back of most denominations. For example, on a bill of 1000 riyals we will see the mosque of Omar from Jerusalem. The banknote in 2000 will please tourists with the opportunity to see the image of the Kaaba. On the 5000th banknote decided to place a picture symbolizing wealth and dignity - a bouquet of flowers with birds.

We see that with the change in the form of government Iran's monetary unit began to look absolutely different. In this vivid example, one can clearly understand how the political situation in the state affects the life of citizens in general.