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Encyclopedia > Iranian rial
Iranian rial
ریال ایران (Persian)
20,000 rial banknote, reverse 10,000 rial banknote, obverse and reverse
ISO 4217 Code IRR
User(s) Iran
Inflation 15.8%
Source The World Factbook, 2006 est.
Superunit
10 toman
(unofficial)
Subunit
1/100 dinar
Symbol
Coins 50, 100, 250, 500 rials
Banknotes 100, 200, 500, 1000, 2000, 5000, 10 000, 20 000, 50 000 rials
Central bank Central Bank of Iran
Website www.cbi.ir

The rial (ریال in Persian; ISO 4217 code IRR) is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting. The Rial. Irans official currency. ... Image File history File links Khomeini. ... The toman (تومان in Persian, pronounced [tomæn], possibly derived from a Turkic word) was the currency of Iran until 1932. ... A 25,000 Iraqi dinar note printed after the fall of Saddam Hussein A hyperinflation banknote of 50 billion dinara (1993) A 5,000 dinar bill of the Republic of Serbian Krajina (1992) The dinar is the currency unit of various countries, most of them Arabic-speaking or once part... Bank Markazi, Tehran, Iran Bank Markazi Iran or Bank Markazi Jomhouri Islami Iran (Persian: بانک مرکزی جمهوری اسلامی ايران) is the Central bank of Iran. ... Persian (Local names: فارسی Fârsi or پارسی Pârsi)* is an Indo-European language spoken in Iran, Afghanistan and Tajikistan as well as by minorities in Uzbekistan, Turkmenistan, India, Pakistan, Azerbaijan, Georgia, Southern Russia, neighboring countries, and elsewhere. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...


Although not an official currency since 1932, the toman is frequently used to express amounts of money. It enjoys wide usage among Iranians today as an amount of ten rial. Most Iranians state the value of things in toman - not rial. In fact, prices are currently most commonly marked in toman, sometimes meaning 1000 or 1,000,000 toman (10,000 or 10,000,000 rial). Year 1932 (MCMXXXII) was a leap year starting on Friday (the link will display full 1932 calendar) of the Gregorian calendar. ... The toman (تومان in Persian, pronounced [tomæn], possibly derived from a Turkic word) is an older official currency of Iran, which was later divided into 10 rials. ...


There is no official symbol for the currency but the Iranian standard ISIRI 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it. The Unicode Standard has a compatibility character defined for "RIAL SIGN" [﷼] at the position U+FDFC.[1] ISIRI logo is designed in a way that it contains the English characters isiri upside-down and it resembles the the word Iran (ايران) without dots in Persian language at the same time The Institute of Standards and Industrial Research of Iran (ISIRI; مؤسسهٔ استاندارد Ùˆ تحقیقات صنعتی ایران) is the Iranian governmental institution for standardization and... Unicode is an industry standard designed to allow text and symbols from all of the writing systems of the world to be consistently represented and manipulated by computers. ...

Contents

History

The rial was first introduced in 1798 as a coin worth 1250 dinar or one eighth of a toman. In 1825, the rial ceased to be issued, with the qiran of 1000 dinars (one tenth of a toman) being issued as part of a decimal system. The rial replaced the qiran at par in 1932, although it was divided into one hundred (new) dinars. Year 1798 (MDCCXCVIII) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Friday of the 11-day slower Julian calendar). ... The toman (تومان in Persian, pronounced [tomæn], possibly derived from a Turkic word) was the currency of Iran until 1932. ... Opening of the Stockton and Darlington Railway 1825 (MDCCCXXV) was a common year starting on Saturday (see link for calendar). ... The qiran (قران), also qerun or kran, was a currency of Iran between 1825 and 1932. ... Year 1932 (MCMXXXII) was a leap year starting on Friday (the link will display full 1932 calendar) of the Gregorian calendar. ...


Prior to decimalisation of 1932, these coins and currencies were used, and some of these terms still have wide usage in Iranian languages and proverbs:[2] For the system of library classification, see Dewey Decimal Classification. ... Year 1932 (MCMXXXII) was a leap year starting on Friday (the link will display full 1932 calendar) of the Gregorian calendar. ...

Old currency In dinar First issue
shahi 50 dinar Samanid dynasty
mahmoudi (sannar) 100 dinar Sultan Mahmoud
abbasi 200 dinar Shah Abbas I
naderi (da-shahi) 500 dinar Nadir Shah
qiran 1000 dinar Fath Ali Shah (1825)
rial 1250 dinar Fath Ali Shah (1798)
dozari 2000 dinar Qajar dynasty
toman 10000 dinar Ilkhanate

The Samanid dynasty (819-999) was a Persian dynasty in Central Asia, named after its founder Saman Khuda. ... Mahmud and Ayaz The Sultan is to the right, shaking the hand of the sheykh, with Ayaz standing behind him. ... Shah Abbas I (شاه عباس اول) (January 27, 1571?-January 19, 1629?) was the most eminent ruler of the Safavid Dynasty. ... Nadir Shah’s portrait from the collection of Smithsonian Institute Nadir Shah (Persian: نادر شاه) (Nadir Qoli Beg (Persian: نادر قلی بیگ), also Tahmasp-Qoli Khan (Persian: تهماسپ قلی خان) also Nadir Shah Afshar (Persian: نادر شاه افشار) ) (October 22, 1688 - June 19, 1747) ruled as Shah of Iran (1736–47) and was the founder of the short-lived Turkic Afsharid... Qiran ,(قران) also qerun, kran, , as an Iranian currency was first introduced in 1825 as a coin worth 1000 dinars or one eighth of a toman. ... Fath Ali Shah was the second Qajar King of Persia. ... Fath Ali Shah was the second Qajar King of Persia. ... The Qajar dynasty ( ) (Persian: ‎ - or دودمان قاجار - Qâjâr) was the ruling family of Persia from 1781 to 1925. ... The toman (تومان in Persian, pronounced [tomæn], possibly derived from a Turkic word) is an older official currency of Iran, which was later divided into 10 rials. ... Khanates of Mongolian Empire: Il-Khanate, Chagatai Khanate, Empire of the Great Khan (Yuan Dynasty), Golden Horde The Ilkhanate (also spelled Il-khanate or Il Khanate) was one of the four divisions within the Mongol Empire. ...

Value

In 1932, the exchange rate with the British pound was equal to that of the qiran, 1 pound = 59.75 qiran. This changed to 80.25 in 1936, 64.350 in 1939, 68.8 in 1940, 141 in 1941 and 129 in 1942. In 1945, Iran switched to the U.S. dollar as the peg for its currency, with 1 dollar = 32.25 rial. The rate was changed to 1 dollar = 75.75 rial in 1957. Iran did not follow the dollar's devaluation in 1973, leading to a new peg of 1 dollar = 68.725 rial. The peg to the U.S. dollar was dropped in 1975. Year 1932 (MCMXXXII) was a leap year starting on Friday (the link will display full 1932 calendar) of the Gregorian calendar. ... For details of notes and coins, see British coinage and British banknotes. ... 1936 (MCMXXXVI) was a leap year starting on Wednesday (link will take you to calendar). ... Year 1939 (MCMXXXIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ... This article or section does not cite any references or sources. ... For the movie, see 1941 (film). ... 1942 (MCMXLII) was a common year starting on Thursday (the link is to a full 1942 calendar). ... Year 1945 (MCMXLV) was a common year starting on Monday (link will display the full calendar). ... The United States dollar is the official currency of the United States. ... Year 1957 (MCMLVII) was a common year starting on Tuesday (link displays the 1957 Gregorian calendar). ... Devaluation is reduction in the value of a currency. ... Year 1973 (MCMLXXIII) was a common year starting on Monday (link will display full calendar) of the 1973 Gregorian calendar. ... Year 1975 (MCMLXXV) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ...


In 1979, 1 rial equaled to $0.0141. The value of Iran's currency has declined precipitously after the Islamic revolution because of capital flight from the country.[3][4]. Whereas on 15 March 1978, 71.46 rials equaled one U.S. dollar, in July 1999, 9430 rials amounted to one dollar. However, the value of rial has become more stable in recent years (since 1999) as the economy of Iran has been growing rapidly and away from the dollar zone. (See Iran Currency Exchange Rate History: 1975 - 2007). Also: 1979 by Smashing Pumpkins. ... Protestors take to the street in support of Ayatollah Khomeini. ... Seen in Asian markets in the 1990s capital flight is when assets and/or money rapidly flow out of a country. ... is the 74th day of the year (75th in leap years) in the Gregorian calendar. ... Year 1978 (MCMLXXVIII) was a common year starting on Sunday (link displays the 1978 Gregorian calendar). ... This article or section does not cite any references or sources. ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... The economy of Iran has been improving steadily over the past two decades but a continuing strong labour force growth unmatched by commensurate real economic growth is driving up unemployment to a level considerably higher than the official estimate of 11%. According to experts, annual economic growth above five per...


Exchange rate system

Until 2002, Iran’s exchange rate system was based on a multi-layered system, where state and para-state enterprises benefited from the preferred rate (1750 rial for $1) while the private sector had to pay the market rate (8000 rial for $1), hence creating an unhealthy competition environment. However, in March 2002, the multi-tiered system was replaced by a unified, market-driven exchange rate. Also see: 2002 (number). ... Also see: 2002 (number). ...


Exchange rates: Rials per US dollar - 9,246.94 (2006), 8,964 (2005), 8,885 (2004), 8,193.89 (2003)

Pre-unification, Rials per US dollar:

Market: 8,200 (2002), 8,050 (2001), 8,350 (2000)[5]


Preferred: 6,906.96 (2002), 1,753.56 (2001), 1,764.43 (2000)[6]


Redenomination

Because of the current low value of rial, and that people rarely use the term, redenomination or change of currency was first proposed in the late 1980s. The issue has re-emerged and been under discussion, as a result of issuance of larger banknotes in 2003. However, opponents of redenomination are wary of more inflation resulting from psychological effects, and increase in velocity of money leading to more instabilities in the economy of Iran.[7][8] A denomination is a unit of currency. ... This article does not cite any references or sources. ... Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ... Velocity of money In economics, the velocity of money refers to a key term in the quantity theory of money, which centers on the equation of exchange: M*V = P*Q where M is the total amount of money in circulation in an economy at any one time (say, on... The economy of Iran has been improving steadily over the past two decades but a continuing strong labour force growth unmatched by commensurate real economic growth is driving up unemployment to a level considerably higher than the official estimate of 11%. According to experts, annual economic growth above five per...


On April 12, 2007, the Economics Commission of the Parliament announced initiation of a statute in draft to change the currency, claiming redenominations has helped reducing inflation elsewhere, such as in Turkey.[9] is the 102nd day of the year (103rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... مجلس شورای اسلامی - The Majles; Irans Parliament. ...


Coins

First rial

Silver coins were issued in denominations of ⅛, ¼, ½ and 1 rial. Silver coins are possibly the oldest mass form of coinage. ...


Second rial

The first coins of the second rial currency were in denominations of 1, 2, 5, 10 and 25 dinar, ½, 1, 2 and 5 rial, with the ½ to 5 rial coins minted in silver. Gold coins denominated in pahlavi were also issued, initially valued at 100 rial. In 1944, the silver coinage was reduced in size, with the smallest silver coins being 1 rial pieces. This year also saw the cessation of minting of all denominations below 25 dinar. In 1945, silver 10 rial coins were introduced. In 1953, silver coins ceased to be minted, with the smallest denomination now 50 dinar. 20 rial coins were introduced in 1972. 1944 (MCMXLIV) was a leap year starting on Saturday. ... Year 1945 (MCMXLV) was a common year starting on Monday (link will display the full calendar). ... Year 1953 (MCMLIII) was a common year starting on Thursday (link will display full calendar) of the Gregorian calendar. ... Year 1972 (MCMLXXII) was a leap year starting on Saturday (link will display full calendar) of the Gregorian calendar. ...


After the Islamic Revolution, the coinage designs were changed to remove the Shah's effigy but the sizes and compositions were not immediately changed. 50 dinar coins were only minted in 1980 and 50 rial coins were introduced in 1981. In 1993, a new coinage was introduced with smaller 1, 5, 10 and 50 rial coins and new 100 rial pieces. 250 rial coins were introduced the following year. In 2004, the sizes of the 50, 100 and 250 rial coins were reduced and 500 rial coins were introduced. Protestors take to the street in support of Ayatollah Khomeini. ... His Majesty Mohammad Reza Shah Pahlavi (اعلیحضرت محمدرضا شاه پهلوی; October 26, 1919 – July 27, 1980) also knows as Aryamehr, was the last Shah of Iran, ruling from 1941 until... Year 1981 (MCMLXXXI) was a common year starting on Thursday (link displays the 1981 Gregorian calendar). ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...


Coins currently in circulation are 50, 100, 250 and 500 rial. The 5 and 10 rials are still legal tender but are not issued anymore. Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ...


Banknotes

In 1932, notes were issued by the "Bank Melli Iran" in denominations of 5, 10, 20, 50, 100 and 500 rial. 1000 rial notes were introduced in 1935, followed by 200 rial notes in 1951 and 5000 and 10,000 rial in 1952. 5 rial notes were last issued in the 1940s, with 10 rial notes disappearing in the 1960s. In 1961, the Central Bank of Iran took over the issuance of paper money. Year 1932 (MCMXXXII) was a leap year starting on Friday (the link will display full 1932 calendar) of the Gregorian calendar. ... Bank Melli Iran (BMI)also called the National Bank of Iran is an Iranian Bank. ... 1935 (MCMXXXV) was a common year starting on Tuesday (link will display full calendar). ... Year 1951 (MCMLI) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... This article or section does not cite any references or sources. ... The 1960s decade refers to the years from January 1, 1960 to December 31, 1969, inclusive. ... Year 1961 (MCMLXI) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ...


In 1979, after the Islamic revolution, Iranian banknotes featuring the Shah's face were counter-stamped with intricate designs to cover the Shah's face. The first regular issues of the Islamic Republic were in denominations of 100, 200, 500, 1000, 5000 and 10,000 rial. 2000 rial notes were introduced in 1986. Also: 1979 by Smashing Pumpkins. ... Protestors take to the street in support of Ayatollah Khomeini. ... Shah or Shahzad is a Persian term for a monarch (ruler) that has been adopted in many other languages. ... Year 1986 (MCMLXXXVI) was a common year starting on Wednesday (link displays 1986 Gregorian calendar). ...


Issuance of larger notes

Printing banknotes larger than 10,000 rials was first proposed in 1989, and in 1992 central bank asked for the government permission to print 20,000, 50,000 and 100,000 rial notes. This was not realized at that time, due to fears of inflation and counterfeiting.[7] 10,000 rial note remained the highest valued note for more than 50 years, until 2003 when 20,000 rial notes were added. Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... A counterfeit is an imitation that is made with the intent to deceptively represent its content or origins. ... Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ...


On 4 March 2007, it was announced that Iran would issue a 50,000 rial banknote with the subject being the Iranian nuclear energy program. The note was issued on 12 March.[10][11] The note features a quote by Mohammed, translated as: "Even if science is at the Pleiades, some men from the land of Persia would attain it".[12] The note also features the English term: "Persian Gulf", a reference to Persian Gulf naming dispute. (See specimen) is the 63rd day of the year (64th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... This article is about Irans nuclear power program. ... March 12 is the 71st day of the year (72nd in leap years) in the Gregorian calendar. ... For other people named Muhammad, see Muhammad (disambiguation). ... For alternate meanings see Pleiades (disambiguation). ... For other uses of this term see: Persia (disambiguation) The Persian Empire is the name used to refer to a number of historic dynasties that have ruled the country of Persia (Iran). ... Map of the Persian Gulf. ... Sheikh Saeed House, Dubai, UAE. A historic map is altered to erase the word Persian from the Persian Gulf. ...


Banknotes currently in circulation are 100, 200, 500, 1000, 2000, 5000, 10,000, 20,000 and 50,000 rials. Portraits of Ruhollah Khomeini are found on the obverse of 1000 rial banknote and greater. A £20 Bank of England banknote. ... Grand Ayatollah Seyyed Ruhollah Mustafavi Khomeini ( ) (Persian: روح الله موسوی خمینی RÅ«ollāh MÅ«savÄ« KhomeynÄ« (September 21, 1902 [1]– June 3, 1989) was a Shi`i Muslim cleric, philosopher and marja (religious authority), and the political leader of the 1979 Iranian Revolution which saw the overthrow of Mohammad Reza Pahlavi, the last...


Cash cheques

Currently the highest valued legal tender issued by the central bank is 50,000 rials (about U.S$5.40 in 2007). However, the central bank allows major state banks to print their own banknotes known as "cash cheques" (Persian: چک پول chekpul). They are a form of bearer teller's-cheque with fixed amounts, printed in the form of official banknotes. Once they are acquired from banks, they function like cash for a year, however stores may reject higher value notes. Two forms of these banknotes are available. One known as "Iran cheque" can be cashed in any financial institution, while the other must be cashed at the issuing bank. They are printed in 200,000, 500,000, 1,000,000, 2,000,000 and 5,000,000 rial values.[13][14][15] Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... Persian (Local names: فارسی Fârsi or پارسی Pârsi)* is an Indo-European language spoken in Iran, Afghanistan and Tajikistan as well as by minorities in Uzbekistan, Turkmenistan, India, Pakistan, Azerbaijan, Georgia, Southern Russia, neighboring countries, and elsewhere. ... Example of a Canadian cheque. ... A cashiers check (also known as a treasurers check, bank check, or tellers check) is a check issued by a bank on its own account for the amount paid to the bank by the purchaser with a named payee, and stating the name of the party purchasing...

Current IRR exchange rates
Use Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
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Use OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

See also

The economy of Iran has been improving steadily over the past two decades but a continuing strong labour force growth unmatched by commensurate real economic growth is driving up unemployment to a level considerably higher than the official estimate of 11%. According to experts, annual economic growth above five per... The least valued currency unit is the currency in which a single unit buys the least number of any given other currency or the smallest amount of a given good. ...

References

  1. ^ For the proposal, see Pournader, Roozbeh (2001-09-20). Proposal to add Arabic Currency Sign Rial to the UCS (PDF). It proposes the character under the name of ARABIC CURRENCY SIGN RIAL, which was changed by the standard committees to RIAL SIGN.
  2. ^ "تاريخچه پول در ايران", BBC News Persian, 2007-02-24. Retrieved on 2007-06-10. (in Persian) 
  3. ^ [1]
  4. ^ Nader Habibi (2003-07-09). Iran's Exchage Rate Freeze: Is it Appropriate? Is it sustainable?. Retrieved on 2007-06-13.
  5. ^ http://www.farsinet.com/toman/exchange.html
  6. ^ CIA factbook
  7. ^ a b http://www.magiran.com/npview.asp?ID=1364859
  8. ^ [2] [3]
  9. ^ [4][5]
  10. ^ http://www.nachthund.biz/CatalogUpdate/Iran/IranIndex.html Accessed 05/03/2007
  11. ^ http://baztab.info/news/62624.php
  12. ^ http://www.bbc.co.uk/persian/business/story/2007/03/070303_mv-five-thousand.shtml
  13. ^ CBI
  14. ^ BMI
  15. ^ http://www.bankrefah.ir/en/aboutus/currency/cheque5mr.asp Bank Refah

BBC News is the department within the BBC responsible for the corporations news-gathering and production of news programmes on BBC television, radio and online. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... February 24 is the 55th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... June 10 is the 161st day of the year (162nd in leap years) in the Gregorian calendar. ... Persian (Local names: فارسی Fârsi or پارسی Pârsi)* is an Indo-European language spoken in Iran, Afghanistan and Tajikistan as well as by minorities in Uzbekistan, Turkmenistan, India, Pakistan, Azerbaijan, Georgia, Southern Russia, neighboring countries, and elsewhere. ... Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ... is the 190th day of the year (191st in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 164th day of the year (165th in leap years) in the Gregorian calendar. ... The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ...

ONLY SEE This Link For Better Picture Of Banknotes

 16. http://www.Banknotes.com/ir.htm 

Other sub Link :

 http://www.Banknotes.com/ir147.htm 20000 Rials (2004) (Ayatollah Khomeini; square in Isfahan) 
 http://www.Banknotes.com/ir148.htm 50000 Rials (2007) (Ayatollah Khomeini; Nuclear symbol) 

majid sharifi


External links

  • Don's World Coin Gallery - Iran
  • Ron Wise's World Paper Money - Iran Mirror site
  • Tables of Modern Monetary Systems by Kurt Schuler - Asia Mirror site
  • The Global History of Currencies - Iran
  • Global Financial Data data series - Iran Rial
  • Global Financial Data currency histories table ( Microsoft Excel format)
  • Central Bank of Iran - Statistics
  • Iran travel guide from Wikitravel (information on currency exchange and credit card payment)

  Results from FactBites:
 
Iranian rial - Wikipedia, the free encyclopedia (718 words)
The rial was first introduced in 1798 as a coin worth 1250 dinars or one eighth of a toman.
In 1825, the rial ceased to be issued, with the qiran of 1000 dinars (one tenth of a toman) being issued as part of a decimal system.
Banknotes in circulation are: 100, 200, 500, 1000, 2000, 5000, 10,000 and 20,000 rials.
Iranian Visa : Your Key to Iran :: (Visa | Hotels | Tours | Transports | ...) (462 words)
Toman is more common in oral quotes, while Rial is the official unit and used in most verbal documents.
Import and export of Syrian Pounds, Arabian Rials, Emirates Dirhams, Iraqi Dinars, Lebanese Pounds and Afghanis are prohibited by passengers and commercially.
In case a passenger has them with him at the time of entry, an exchange declaration must be filled to prevent difficulties on exit.
  More results at FactBites »

 
 

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