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In 1979, 70 rials equalled US$1. The value of the rial declined precipitously after the Islamic revolution because of capital flight from the country.Studies estimate that the flight of capital from Iran shortly before and after the revolution in the range of $30 to $40 billion.[21] Whereas on March 15, 1978, 71.46 rials equalled US$1, in July 1999, US$1 equalled 9,430 rials.
Iranian Banknotes During Pahlavi Dynasty
In 1979, 70 rials equalled US$1. The value of the rial declined precipitously after the Islamic revolution because of capital flight from the country.Studies estimate that the flight of capital from Iran shortly before and after the revolution in the range of $30 to $40 billion.[21] Whereas on March 15, 1978, 71.46 rials equalled US$1, in July 1999, US$1 equalled 9,430 rials.