IRR

AAA

DEFINITION of 'IRR'

The currency abbreviation or currency symbol for the Iranian Rial is U+FDFC, the currency for Iran. The rial is made up of 100 dinar but actually has no official symbol. U+FDFC is the standard keyboard position denoting the currency, which is also quoted in a superunit of 10 known as the toman.

INVESTOPEDIA EXPLAINS 'IRR'

The rial was first seen in 1798 in coin form but was replaced by the quiran in 1825. It was instituted again in 1932, and for decades the highest value note printed was the 10,000 rial bill. 20,000 rial bills began circulation in 2003, followed by 50,000 rial bills in 2007.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Money

    An officially-issued legal tender generally consisting of currency ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. 1979 energy crisis

    The 1979 energy crisis in the U.S. was an event of widespread ...
  6. ISP (Internet Service Provider)

    A company that provides consumers, businesses, and other Internet ...
Related Articles
  1. Forex Fundamentals

    What Causes A Currency Crisis?

    Find out what can cause a currency to collapse, and what central banks can do to help.
  2. Forex Education

    The Greatest Currency Trades Ever Made

    These speculators took big positions - and scored huge profits - in the currency market.
  3. Forex Education

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  4. Economics

    What is Fiat Money?

    Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity.
  5. Economics

    What is M1?

    M1 is a measurement of money supply that includes all hard currency, plus demand deposits such as checking accounts.
  6. Forex

    Best Places To Go On A Strong Dollar In 2015

    The U.S. dollar is stronger than ever, which means that traveling abroad to certain countries will be easier on the wallet.
  7. Economics

    Why Low Oil Prices Benefit Saudi Arabia?

    Saudi Arabia's large currency reserves and dominant position in the oil market allows it to manipulate the current scenario to its favor and provides political leverage against rival countries. ...
  8. Forex

    Understanding Currency Carry Trade

    A currency carry trade is a long-term investment strategy used primarily by large institutional investors. The purpose is to make a profit over time from differences in interest rates between ...
  9. Economics

    Could Ukraine's Debt Crisis Destabilize The EU?

    A financial crisis in Ukraine could be a bigger threat to European security than the current financial crisis in Greece.
  10. Chart Advisor

    Why You Must Watch These Currency ETF Trade Levels

    Major currencies have been pushed lower on U.S. dollar strength. Here are trade setups for if the trend continues, or reverses.

You May Also Like

Hot Definitions
  1. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  2. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  3. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  4. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
  5. Accrued Interest

    1. A term used to describe an accrual accounting method when interest that is either payable or receivable has been recognized, ...
  6. Absorption Costing

    A managerial accounting cost method of expensing all costs associated with manufacturing a particular product. Absorption ...
Trading Center