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David L on the Rial

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Post by Ponee on Tue Sep 01, 2015 6:51 pm

David L. wrote:

9/1/2015 05:05:51


Iran's currency was never high, matter of fact the highest it ever was, was when it depegged from the Pound and peg itself to the Dollar in early forties.

At that time it was less than 1/2 a penny. Prior to sanctions it was even less. Currently, its somewhere around 25,000 : 1 compared to 1120 : 1 with the IQD.

The IRR (rial) was never for last century worth anything other than a penny. While the IQD (dinar) has seen an average rate of $1.50 -$2.30 over said time frame.

I personally, can't see the IRR joining the international trade with anything near a rate of $3.00. Its one thing for the IQD to resume trade with a rate near its prior value and another to assume Iran's rate would go from prior( non sanctioned rate ) of less than 1/2 penny to $3.00.



David L.

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Post by Kevind53 on Tue Sep 01, 2015 11:17 pm

Not to mention is is still illegal for a US citizen to own Rials.

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