Iran Currency Name
So, what’s the deal with Iran’s currency having two names? It’s like having a formal name for official stuff and a nickname that everyone uses. Let’s dive into both of these names and see what’s what.
- Rial The Rial is the official big shot in Iran’s currency world. It has quite a history behind it, and we’ll look at where its name came from. Did you know Iran isn’t the only country using the Rial? We’ll check out some other places that share this currency name.
- Toman Now, let’s talk about Toman—the cool kid on the block. It’s what most Iranians use when they’re talking money. We’ll explain how it differs from the Rial and why everyone except the government and official organizations prefers to use it.
The history of the Iranian rial began in 1798 when it was issued as a currency valued at 1,250 dinars, or one-eighth of a toman. By 1825, the qiran had replaced the rial, split into 20 shahi, or 1,000 dinars, and was worth 1/100 of a toman. Upon its introduction in 1932, the rial was split into 100 new dinars, superseding the qiran at par.
Dinar, shahi, abbasi, naderi, qiran, and toman were some coins and currencies used in Iran until decimalization in 1932. Proverbs and spoken Iranian languages continue to use some of these words to this day
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Iran Currency Symbol
Ever wonder what’s on Iranian money? Well, it’s like a who’s who of Iranian leaders! Before the revolution, you’d see the Shah’s (king of Iran) face on the bills. After the revolution( after 1978)? It was all about Khomeini. We’ll show you some pictures, but you must use your imagination for now!
Comparison of Iran’s Currency with Other Currencies
Alright, let’s play the currency comparison game! We’ll see how Iran’s money compares to some other well-known currencies.
Iran Currency to USD
First, the big one is how the Iranian currency compares to the almighty US dollar. We’ll break it down for you.
- Over the years, the Iranian rial has suffered notable deflation versus the US dollar: in 1932, it was fixed to sterling at a rate of £1 = Rls 59.75.
- The rial was set in 1945 about the US dollar at USD 1 = Rls 32.25.
- The value of the US dollar by the late 1950s reached as high as 75.75 rials.
- By mid-1999, it took over 9,000 rials to secure 1 US dollar.
- As of late 2020, 42,105 rials = 1 US dollar.
- As of March 2024, each US dollar traded at 610,000 rials in open markets, a 43% drop compared to March 2023.
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The rial’s value has plummeted due to factors like the Islamic revolution, high inflation, and economic sanctions. Iran’s oil export volumes have increased significantly in recent years, but revenues have only grown modestly due to discounted sales to China.
Note:
The rial’s value has dropped significantly due to the Islamic Revolution, high inflation, and economic penalties. Iran has been able to sell more oil in recent years, but because of cheaper sales to China, the country’s income has only grown slightly.
Iran Currency to INR
Next, let’s travel to India and compare Iran’s currency to the Indian Rupee.
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Iran Currency to India 100 Rupees
Have you ever wondered how far 100 Indian Rupees would get you in Iran? We’ll do the math and give you an idea of what you could buy with that.
100 Indian rupees is currently equivalent to around 55,000 Iranian rials. With this amount, you could potentially buy:
- Around 3-4 bottles of water in Iran
- A small snack or candy bar
- A short taxi ride within a city
- A few pieces of fresh fruit
However, prices in Iran are typically quoted in tomans, an informal unit worth 10 rials. So 100 rupees would be equivalent to 5,500 tomans, a very small amount.
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Now, we’ll look at Iran’s currency next to its neighbor’s money – the Pakistani Rupee.
- Pakistani 1000 to Iran Currency
Last, let’s see what happens when we convert 1000 Pakistani Rupees to Iranian currency. Spoiler alert: it might be more (or less) than you think!
To convert 1,000 Pakistani Rupees (PKR) to Iranian Rials (IRR), the current exchange rate is approximately:
- 1 PKR = 150.18198 IRR .
Thus, when you convert 1,000 PKR, you get:
- 1,000 PKR×150.18198 IRR PKR≈150,182 IRR
- 1,000 PKR×150.18198 IRR PKR≈150,182 IRR
This means that 1,000 Pakistani Rupees is equivalent to about 150,182 Iranian Rials.
In summary, with 1,000 PKR, you can acquire a significant amount of Iranian currency, reflecting the relatively low value of the rial compared to the Pakistani rupee.
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Medical Tourism in Iran: A Value for Your Money
Understanding the currency can significantly enhance your experience when considering medical treatment in Iran. Iran offers world-class healthcare at a fraction of the cost you’d find elsewhere, and being familiar with the local currency ensures transparency in your expenses. Whether you’re converting your dollars, rupees, or any other currency, knowing the ins and outs of Iran’s monetary system can help you budget effectively and enjoy a smooth medical journey.
From advanced procedures to routine treatments, Iran’s medical tourism industry is renowned for its quality and affordability, making it an attractive destination for patients from all over the globe. So, as you plan your trip, remember that a bit of knowledge about Iran’s currency can go a long way in making your stay more comfortable and your treatment more accessible.
