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Rial Lost Value by 30% in 2014

Rial Lost Value by 30% in 2014Rial Lost Value by 30% in 2014

The rial lost 30 percent of its value in 2014, according to a recent World Bank report. The Iranian currency stood closely after Argentina’s peso, which lost 32.1 percent of its value in the same year, to become the second most-depreciated among 27 major currencies in the world. In 2013, Iran ranked first. According to the report, 23 currencies depreciated against the US dollar in 2014. Japan’s yen fell by 7.8 percent, China’s yuan by 0.2 percent, Russia’s ruble by 17.4 percent, Turkey’s lira by 12.9 percent and India’s rupee by 4.2 percent, while Euro and Pakistan’s rupee gained 0.1 and 0.5 percent against the US dollar respectively.

Financialtribune.com