With the collapse of the Soviet Union in 1989-1991, other than Saudi Arabia Jordan and Israel, all Middle East, African, & Balkans currencies followed suit
Click here for Africa: South African Rand, Ethiopian Birr and Nigerian Naira, & Balkans: Serbia and Albania
1950 $2.77 (Close of WW2 and almost at par with Palestinian Pound) 1979 $1.66 (Start of Egyptian "Open Door Policy") 1989 $1.20 1990 $0.60 1991 $0.30 (Start of Gulf War 1990-91) 2002 $0.20 2014 $0.14 (Disruption of "Arab Spring") 2015 $0.10 2016 $0.06 2022 $0.06 2024 $0.02
1950 3 1963 4 1988 12 2001 48 2012 62 2013 94 2014 151 2016 208 2021 1250 2022 2512 Unofficial May 2022 3950 Unofficial Jan 2024 14550
1950 3 1981 5 1985 15 1986 36 1987 208 1988 450 1991 1024 1992 1500 2020 5000 2021 15000 2024 89000 In March 2020 at the start of COVID, Lebanon's Central Bank defaulted on $90 billion of sovereign debt obligations, triggering an informal collapse in the value of the Lebanese pound. Citizens' savings in dollars, available in limited amounts during 2019, became inaccessible after October 17, 2019. It has been remarked that Lebanon, whose population is under 7 million, "produces little and imports about 80 percent of the goods it consumes." In February 2024 the National Social Security Fund announced that it had raised the exchange rate -- effective February 1 -- to 89,000 to the US dollar.
In 1950 Replaced Palestinian Pound at par
1950 $2.80 (Close of WW2) 1988 $2.40 1989 $1.60 (Start of Gulf War 1990-91) 2001 $1.41 (Fixed Rate of Exchange)
1950 $0.22 (Close of WW2) 1985 $0.27 (Fixed Rate of Exchange)
On 30 October 1918, following the collapse of the Ottoman Empire, Imam Yahya Muhammad of the al-Qasimi dynasty declared northern Yemen an independent sovereign state. Its currency became the North Yemen Rial. In the Aden Protectorate in the south, a British protectorate from 1839, the Indian rupee and the Maria Theresa Thaler (trade dollar) were the primary currencies. The East African shilling replaced the rupee after 1951. In 1965, the South Arabian Dinar was introduced, at 1 Dinar = 1 UK pound = $US 2.80. It was renamed the South Yemeni Dinar in 1967 when the Aden Protectorate became independent as South Yemen. Forged close links with the USSR until the breakup of the Soviet Union in the late 1980s. In May 1990 North Yemen reunited with South Yemen exchanging 1 South Yemeni Dinar for 26 North Yemen Rials. The South Yemeni Dinar remained legal tender until 1996. In 2014-2015, a civil war broke out. The Iran-backed Houthi armed forces currently occupy Yemen's capital city Sanaa, and refuse to recognise the Saudi-backed government, based in Aden. USD to Yemen Rial 1990 12 1995 40 1996 95 1997 140 1999 170 2006 190 2009 200 2011 214 2016 250
In 1932 the Dinar replaced the Indian Rupee at 11 Rupees to the Dinar, at par with the UK Pound. However, after Saddam Hussein took control in 1980, the value of the Dinar was kept artificially high while its exchange rate on the black market dropped to about 60 cents US.
In 2004, the US invasion of Iraq caused the value of the Dinar to totally collapse. Today there is minimal demand for Iraqi exports, other than oil, which trades in USD.
1950 $2.80 (Close of WW2, at par with the UK pound) 2003 $3.20 2004 1400 to USD 2022 1450 2024 1300
1950 32 1957 75 1992 68 1993 1200 1998 1800 2008 8000 2011 10000 2016 30000 2018 42000 Exchange Rate Status in March 2024 The Islamic Republic of Iran has parallel currency markets with multiple rates
- The Official rate: 42,000 rials
- The Foreign Exchange Management Integrated System (NIMA) rate: 405,527 rials that the Central Bank of Iran uses for exporters and importers
- The Unregulated or black market rate: 616,580 rials, also the transfer (Sana) rate, among others. The disparity among these rates encourages cronyism as individuals and institutions profit by purchasing at the lowest rate in one market and selling in another.
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