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On September 25, 2012, the rial fell to a new low of 26,500 to the USD. The drop followed the government's launch of a foreign exchange center a day before, that would provide importers of some basic goods with foreign exchanges, at a rate about 2% cheaper than the open market rate on a given day. The announced rate at the center on September 24 was 23,620 rials to USD.[34] By early October 2012, the rial had fallen further to about 38,500 rials per USD in the free market. The rial was devalued in July 2013 as the government reduced subsidisation of the exchange rate against the dollar. Also in October 2017, the rial fell further to about 42,500 rials per USD in the free market
Iranian Banknotes During Pahlavi Dynasty
On September 25, 2012, the rial fell to a new low of 26,500 to the USD. The drop followed the government's launch of a foreign exchange center a day before, that would provide importers of some basic goods with foreign exchanges, at a rate about 2% cheaper than the open market rate on a given day. The announced rate at the center on September 24 was 23,620 rials to USD.[34] By early October 2012, the rial had fallen further to about 38,500 rials per USD in the free market. The rial was devalued in July 2013 as the government reduced subsidisation of the exchange rate against the dollar. Also in October 2017, the rial fell further to about 42,500 rials per USD in the free market