The rial, the official currency, is undergoing a decrease in purchasing power due to the weakening of the economy. |
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While in the early 1990s one U. S. dollar was worth about 20 rial, it is now worth 200 rial. |
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In the two weeks following the embargo's announcement, the Iranian rial fell to its lowest level against the dollar since the revolution. |
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The government followed up by banning free currency exchange and set a fixed rate for the rial of 3,000 to the dollar. |
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Today the rial trades at about 35,000 to the dollar, when it trades at all. |
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At that time there was a rush to buy American dollars which reduced the rial to 7,000 to the dollar. |
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But the Environmental Protection Department now says the Majlis has killed every last rial it was seeking to cope with sand storms. |
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The Omani rial is pegged to the dollar. What do you think of the desire voiced by a handful of States to look for a new global reference currency? |
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That drives travelers to the money changers in the street and depresses the rial yet further on the free market. |
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The stumbling rial was named the Newsmaker inside Iran and Mirkarimi as the Newsmaker in the Diaspora. |
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And so scarce dollars have seen their value rise sharply against the rial. |
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Currency notes are also available in 100 baizas, 200 baizas, quarter and half Rial denominations. |
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The Muller and MacDonald theory, in turn, has been challenged by Jose Antonio Rial. |
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