Iranian Rial Exchange Rate Exceeds 1 Million Per Dollar
The Central Bank of Iran has begun issuing a new 10 million rial banknote. The release comes amid economic conditions where citizens face extreme currency devaluation, with reports of 10 million rials being worth approximately 7 dollars. The currency's value has declined significantly, with the exchange rate exceeding 1.5 million rials to one US dollar. The rial has lost 60% of its value in recent months, making the high-denomination note insufficient for daily needs. The currency has lost 60% of its value in a few months, contributing to a 6% economic contraction in the same year. Local bread prices rose from 1,000 rials to 3,000 rials within a year while salaries remained unchanged. This pattern is described as hyperinflation by local observers. International reports and indicators support the implementation of this new currency note.
Topics
Developing
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Sources · 7 independent
“International reports indicate that the Central Bank of Iran has begun issuing a new banknote of the 10 million rial denomination, which is the highest denomination in the country's history.”
“The Central Bank of Iran issues the highest denomination of cash in the history of the country, a pink banknote that carries on its face the image of the Yazd Mosque.”
“The banknote carries on its face an image of the Yazd Jameh Mosque and on its back the beautiful Bamb Castle... the exchange rate in Iran has exceeded one million five hundred thousand rials to one dollar.”
“The currency lost 60% of its value in a few months... the Iranian citizen knows this well; a year ago bread cost 1,000 rials, today it is 3,000 rials and the salary has not changed.”
“العالم تشير وتقارير دولية إلى أن البنك المركزية الإيراني بدأ بطارح ورقة نقدي جديدة من فق 10 ملايين ريال وهي أعلى فق نقدي في تاريخ البلاد في محاولة لتسيل المعملات المالية وتلبية التهافوط على الكاش”
“الإيراني يصدر أعلى فئة النقدية في تاريخ البلاد ورقة وردية اللون تحمل وعلى وجهها صورة مسجد جامعيزد وعلى ظهرها قلعة بمب التاريخية”
“السعر الصرف في إيران تجوز مليوناً وخف. 500 ألف ريال للدولار الواحد بعد أنفقدت العمل 60% من قيمتها في أشهر قيد”
“ريال للدولار الواحد بعد أنفقدت العمل 60% من قيمتها في أشهر قيد”
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