Islamic Republic of Iran: the currency of a country with a high level of inflation

The aftermath of the financial crisis that hit the world economy in the first decade of the twenty-first century is still being manifested. Countries with medium and low levels of life were particularly sensitive to these phenomena . The Islamic Republic of Iran also belongs to such states. The currency of the state, even before the crisis, "pleased" its citizens with a high level of inflation, after the sad financial events began to lose its value even faster. The gloomy process that accompanies the jump in prices in the country is the growth of unemployment.

This phenomenon of an economic nature "absorbed" to a greater extent the youth of the population. The result was unrest in Tehran, the capital of the Islamic Republic of Iran. The country's currency is catastrophically reducing its positions. An additional factor affecting galloping inflation is the absence of a foreign reserve currency in the country . The US refuses to extend a helping hand to the state, explaining its behavior by reluctance to support the growing nuclear program of the Islamic Republic.

The country independent of Persia

As early as the beginning of the twentieth century, a totally different country was located on the territory of modern Iran. Until 1935 the lands of the Muslim state were united under the name of Persia. Then the country received its new name, which has survived to this day. Prior to the country's independence, it was ruled by Shahi. However, in 1979, the last representative of the dynasty fled the country, leaving only historical memories of himself. And on the world map appeared a new independent state - Iran. The currency of the sovereign republic was born in a year - in 1980. The national currency of the Islamic Republic was called rial.

Dinars and fogs

For more than thirty years the currency has not changed its form, color and content. The denominations of the issued banknotes and their value in the world stock market changed only. There is another monetary unit that is distributed in the Republic of Iran. The currency is called fog and is equal to ten real. Tourists who visit the Muslim state, at first, are terribly confused: it is rather difficult to understand what monetary unit a particular price is sounded. In the early stages of the development of the state, dinars were also in circulation. One hundred units of this denomination were one real. Over time, the dinars ceased to be used. The reason for this was a high level of inflation, adding zeros and depreciating the country's currency.

Paper bills and metal banknotes

Currently, the national currency of the country is present in circulation in the form of paper bills and metallic banknotes. Initially, the issue of printed banknotes of one hundred, two hundred and five hundred rials was carried out. Gradually, the banknotes corresponding to them, whose denomination grew by ten, and then a hundred times, entered into circulation. In addition to paper currency notes, Iran's currency also includes coins. Metal roundworms are minted in denominations of fifty, one hundred, a quarter thousand and five hundred rials.

The main and main problem facing the government of the country is a sharp drop in the value of the national monetary unit. The currency of Iran, whose course is exposed to strong inflationary pressures, is losing ground every day. In 2012, there was a colossal drop: in one day, Rial fell by 40% at once. The decline in the value of the currency continues to this day. It is noteworthy that it is possible to import foreign currency into the country only in limited quantities. And withdraw from the plastic card of a foreign bank is almost impossible.