Earlier, according to a report by Bloomberg in 2005 rial of Iran was the tenth weakest currency against the US dollar throughout the world. Based on the report, the parity rate of exchange was 8,764 rls per dollar. At that time Old Turkish Lira was around 1.5 million to a dollar. Bloomberg survey also shows that in 2005 the currencies of Ecuador, Ghana, Indonesia, Madagascar, Mozambique, Romania, Sao Tome and Vietnam were weakest than the national currency of Iran.
As Khabar Online correspondent reports, after five years, as the tenth Islamic Republic government is ruling now, 1.4 Turkish New Lira is exchanged for a dollar. The current official exchange rates of above currencies per US dollar include: Ghanaian Cedi 10,000; Indonesian Rupiah 9223, Madagascar Franc 2040; Mozambique Metical 31.19; Romanian Leu 2.89. In the meantime Ecuador has changed its currency to US dollar.
At the moment the parity rate of exchange of rls 10,020 per dollar is only stronger than dobra of Sao Tome 15,560 to US$1 and Vietnamese dong 18,420 to US$1.
Therefore in five years the national currency of Iran has turned out to be the third weakest currency against the US dollar. As a comparison the dollar of a Zimbabwe which in recent years has faced with a serious economic crisis and high inflation rates is stronger than Iranian rial as 368.49 Zimbabwe dollars exchanged for a US dollar.
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