- published: 09 Apr 2015
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Coordinates: 32°N 53°E / 32°N 53°E / 32; 53
Iran (i/ɪˈrɑːn/ or /aɪˈræn/;Persian: ایران [ʔiˈɾɒn] (
listen)), officially the Islamic Republic of Iran (Persian: جمهوری اسلامی ایران Jomhuri-ye Eslāmi-ye Irān), is a country in Southern and Western Asia. The name "Iran", which in Persian means "Land of the Aryans", has been in use natively since the Sassanian era. It came into use internationally in 1935, before which the country was known to the Western world as Persia (
/ˈpɜrʒə/ or /ˈpɜrʃə/). Both "Persia" and "Iran" are used interchangeably in cultural contexts; however, "Iran" is the name used officially in political contexts.
The 18th-largest country in the world in terms of area at 1,648,195 km2 (636,372 sq mi), Iran has a population of around 79 million. It is a country of particular geopolitical significance owing to its location in the Middle East and central Eurasia. Iran is bordered on the north by Armenia, Azerbaijan and Turkmenistan. As Iran is a littoral state of the Caspian Sea, which is an inland sea, Kazakhstan and Russia are also Iran's direct neighbors to the north. Iran is bordered on the east by Afghanistan and Pakistan, on the south by the Persian Gulf and the Gulf of Oman, on the west by Iraq and on the northwest by Turkey. Tehran is the capital, the country's largest city and the political, cultural, commercial and industrial center of the nation. Iran is a regional power, and holds an important position in international energy security and world economy as a result of its large reserves of petroleum and natural gas. Iran has the second largest proven natural gas reserves in the world and the fourth largest proven petroleum reserves.
A central bank, reserve bank, or monetary authority is a public institution that manages a nation's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the nation's monetary base, and usually also prints the national currency, which usually serves as the nation's legal tender. Examples include the European Central Bank (ECB), the Federal Reserve of the United States, and the People's Bank of China.
The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent commercial banks and other financial institutions from reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference.
Iran Vacation Travel Video Guide • Great Destinations
Iran Travel Guide
Iran , travel guide
IRAN travel guide
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