Rial vs US Dollar: A Currency in Crisis – The Comprehensive 2025 Analysis
1.1. The Evolution of Iran’s Currency
The story of the Iranian Rial is a chronicle of economic survival and adaptation. First introduced in 1932, the Rial replaced the Iranian Qiran at a rate of 1 Rial to 10 Qirans. For decades, it served as a stable symbol of the nation’s sovereignty, backed by the country’s vast oil wealth. However, the trajectory of the currency has been far from linear. Iran has experienced multiple currency reforms and redenominations throughout its history, often triggered by periods of hyperinflation or political upheaval. The currency’s evolution reflects the broader economic history of the country, moving from a relatively stable medium of exchange in the mid-20th century to the hyper-devalued unit of account seen in 2025.
