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Clare » April 5th, 2025
The Iranian rial falls to a new record low against the dollar.
4/5/2025
The Iranian rial hit a record low against the dollar, trading at 1,043,000, as tensions between Washington and Tehran escalate.
This decline occurred during the Persian New Year, Nowruz, when currency exchanges closed and transactions were limited to informal street trading, placing additional pressure on the market.
On Ferdowsi Street in the Iranian capital, Tehran, the heart of the country’s currency exchanges, some merchants have closed their electronic signs displaying the current exchange rate amid uncertainty about the extent of the rial’s decline, according to the Associated Press.
Iranians seeking safe havens for their savings amid an annual inflation rate of nearly 40% are turning to gold, dollars, and other currencies, threatening further challenges for the rial.
The Iranian currency was trading at around 55,000 rials to the dollar in 2018, when the T------------------n, during his first term, imposed sanctions to force Tehran to negotiate by reducing its oil exports and limiting its access to foreign currency.
The United States has imposed four rounds of sanctions on Iranian oil sales since Trump returned to the White House. LINK
Erbil celebrates the 94th anniversary of the issuance of the first Iraqi currency (photos)
4/5/2025
The Education Museum in Erbil, the capital of the Kurdistan Region, held a special event on Saturday to mark the 94th anniversary of the issuance of the first Iraqi currency, with a large educational and cultural presence.
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The ceremony included a display of a wide range of ancient Iraqi coins, documenting the political and economic transformations the country has undergone from the royal era to the present day.
The event featured a rare display of various types of banknotes and coins, including first editions bearing the image of King Faisal I, through decades of changes that accompanied the monarchy and republican systems, and up to the most recent editions.
In an interview with Shafaq News Agency, the director of the educational museum, Omid Al-Barzanji, said, “Today’s event is a display of Iraqi currency from the time of King Faisal until the present day.”
He added, “This date is very important to us, because professors in the past were very interested in collecting coins and their types to display to students as historical evidence. Why? Because every coin, whether paper or metal, has a special stamp or markings that indicate the historical period in which it was issued and reflect the period in which people lived.”
“For this reason, professors have paid attention to it, and today we attach special importance to it on the occasion of the 94th anniversary of the issuance of the first Iraqi currency,” Al-Barzanji added.
He continued, “We are displaying these coins so that the new generation can learn that the Iraqi dinar was worth three dollars, or even more, in the past. Compared to the current currency situation, we notice a decline in its value. This display also shows the new generation that Iraq has gone through many circumstances and challenges, and has lived through multiple phases, from the era of the monarchy to the republic, all the way to the present day.”
The museum director concluded his remarks by saying, “Every period has a story, and every era has a history, and we showcase this history through Iraqi currency.” More pictures at link LINK
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Source: Dinar Recaps
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