Kasraipour said that “US dollar has a small share of Iran’s trade basket and the ban on the registration of dollar-based purchase orders is not going to cause major problems for Iranian businesses.”īased on figures released by the Iranian Trade Development Organization, Iran has imported almost $43 billion worth of goods during the past ten months. The price of US dollar in the Iranian market recently jumped to 5000 tumans with a 30 percent rise in comparison to the price in September.įollowing a clamp down on the black market and officially authorized moneychangers during the past two weeks, every US dollar is being traded for 4500 tumans, which is still 16 percent higher than September. The CBI decision appears to be oblivious to the fact that the Iranian currency has been losing its value against all major currencies, not just against the US dollar. It is still not known whether the ban on dollar-based purchase orders would make any difference in controlling the devaluation of the Iranian currency if merchants begin to pay for imports in Euros, the most likely alternative to dollars. Now they need to replace US dollars with other currencies to further their transactions via the banking system.”Īlthough Kasraipour has mentioned the sanctions as the underlying cause of Iran’s new decision, this could be part of the Iranian government’s initiatives to control the black market for foreign currency and to prevent the rising price of US dollar against the Iranian currency tuman, which has been fast losing its value over the past nine months. Importers have to provide their requirements for the US currency through the black market and moneychangers. He said: “The Iranian banking network has not been able to process transactions in US dollar due to the economic sanctions imposed on Iran. Kasraipour said that the Central Bank has notified the Ministry of Industry, Mining and Trade of the new decision. Speaking in Tehran on Wednesday March 1, the CBI director of foreign exchange policy and regulations Mehdi Kasraipour said the ban on dollar-based purchase orders would be effective immediately. Iran’s economic and financial difficulties and the lingering impact of sanctions continue to impact the value of its currency and trade relations. Once you see the historical exchange rate graph appear, scroll anywhere along the graph line to see the historical exchange rate for that particular day in that year.An Iranian Central Bank official has said that Iran has banned processing of purchase orders for imports based on US dollar. You can select the specific year for which you wish to see the historical exchange rates. ValutaFX has 10 years of history for most currency pairs. Yes, you can see historical conversion rates from Iranian Rials to US Dollars on the Iranian Rial to US Dollar history page. Can I see historical conversion rates for IRR to USD? Yes, you can convert over 120 global currencies to US Dollars using the ValutaFX currency converter. The highest Iranian Rial to US Dollars exchange rate in the last 5 years was 0.000024 US Dollars per Iranian Rial on Wednesday, December 14, 2022. What is the highest IRR to USD rate in the last 5 years? The current exchange rate between the Iranian Rial and the US Dollar is 1 IRR = 0.000024 USD. What is the current exchange rate between IRR and USD? In the last 5 years, the Iranian Rial has depreciated -0.34% relative to the US Dollar. The Iranian Rial is weaker than the US Dollar at this time. If you execute a trade from Iranian Rials to US Dollars late in the week, please bear in mind that the trade might not settle until the following week. However, between 3-4 PM GMT is often a good time if you want to convert Iranian Rials to US Dollars because trading volumes tend to be highest at this time. What time of the day is best for IRR to USD conversions?Ĭurrency pairs are traded throughout the day, and consequently, their values can fluctuate constantly. In the last 5 years, the US Dollar reached a high of 42,932 Iranian Rials to one US Dollar on Wednesday, January 09, 2019. When was the US Dollar at its highest compared the Iranian Rial in the last 5 years? What is 100 IRR in US Dollars?ġ00 Iranian Rials = 0.0024 US Dollars as of Saturday, Septem12:00 PM UTC. You can get live exchange rates between Iranian Rials and US Dollars using the ValutaFX free online currency converter. IRR to USD Converter - FAQs What is the value of one Iranian Rial in US Dollars?ġ Iranian Rial = 0.000024 US Dollars as of Saturday, Septem12:00 PM UTC.
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