<p>That data is just a spike that should be excluded but google finance has little (to no) incentive to fix data quality issues.</p>
<p>For example, <a href="https://www.ceicdata.com/en/iran/foreign-exchange-rates/foreign-exchange-rate-central-bank-of-iran-cbi-end-of-period-us-dollar" rel="nofollow noreferrer">CEIC</a> reports that the exchange rate reached an all-time high of 44,070.000 IRR/USD in Jul 2018 and a record low of 1,439.000 IRR/USD in Oct 1992. This is against the USD - but unless GBPUSD moved like depicted in the chart, the exchange rate will be in line with the cross exchange rate.</p>
<p>IRR is usually quoted as shown above, and not as shown in the screenshot of the question (which is the inverse). It also does not matter much though, because it will more or less be the inverse of the rate. On Bloomberg, there is also no spike on that day.<br />
<a href="https://i.sstatic.net/TeWzE.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/TeWzE.png" alt="enter image description here" /></a></p>
<p>In any case, if the outlier is so large, it is thankfully easy to determine it is a bad data point. It is a lot more difficult in cases that could make sense in theory. Data quality is a huge problem as <a href="https://www.thetalkingmachines.com/episodes/ai-safety-and-legacy-bletchley-park" rel="nofollow noreferrer">Nick Patterson</a> states (the whole podcast starts at 16:40, his discussion about his job at <a href="https://en.wikipedia.org/wiki/Renaissance_Technologies" rel="nofollow noreferrer">Renaissance Technologies</a> starts at 29:55 - a sentence before that is also helpful). He is explaining that at his hedge fund, they had 7 Phd's just cleaning data and organizing the databases.</p>

CC BY-SA 4.0
2022-10-03T10:50:47.423Z
2022-10-11T14:01:16.107Z
2022-10-11T14:01:16.107Z
AKdemy
<p>On August 1st 2014 violence shatters Gaza cease-fire hours after taking effect
Israel and Hamas agreed to a 72-hour humanitarian cease-fire starting Friday, but the kidnapping of an Israeli solider and heavy exchanges of fire two hours after the truce took effect unraveled it.</p>

CC BY-SA 4.0
2022-10-03T01:16:53.527Z
The exchange rate in that screenshot is definitely wrong. The Rial would have appreciated (which would be due to good news only) about 57 Million percent (which simply makes no sense against the EUR)!
Alex
CC BY-SA 4.0
2022-10-02T22:02:21.510Z
2022-10-02T22:02:21.510Z
Unknown
<p><a href="https://www.google.com/search?q=iranian+rial" rel="nofollow noreferrer">Search Iranian Rial</a> and click on <kbd>Max</kbd> above the chart.</p>
<p>Iranian Rial to Pound Sterling:</p>
<blockquote>
<p><a href="https://i.sstatic.net/3bAFG.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/3bAFG.png" alt="15 November 2013" /></a></p>
<p><a href="https://i.sstatic.net/2mFBN.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/2mFBN.png" alt="1 August 2014" /></a></p>
<p><a href="https://i.sstatic.net/dJL3l.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/dJL3l.png" alt="18 November 2016" /></a></p>
</blockquote>
<p>Why did the Iranian Rial peak suddenly on August 1st 2014?</p>

CC BY-SA 4.0
2022-05-08T21:09:24.603Z
That is just a spike that should be excluded but google finance has little (to no) incentive to fix data quality issues.
AKdemy
<currency><money><exchange-rates><foreign-exchange><currency-exchange>
Why did the Iranian Rial peak suddenly on 1 August 2014?
user41154
# Why did the Iranian Rial peak suddenly on 1 August 2014?

(Asked by: username_0 on 2022-05-08)

[Search Iranian Rial](https://www.google.com/search?q=iranian+rial) and click on `Max` above the chart.

Iranian Rial to Pound Sterling:

> [![15 November 2013](https://i.sstatic.net/3bAFG.png)](https://i.sstatic.net/3bAFG.png)
>
> [![1 August 2014](https://i.sstatic.net/2mFBN.png)](https://i.sstatic.net/2mFBN.png)
>
> [![18 November 2016](https://i.sstatic.net/dJL3l.png)](https://i.sstatic.net/dJL3l.png)

Why did the Iranian Rial peak suddenly on August 1st 2014?

**Tags:** currency, money, exchange-rates, foreign-exchange, currency-exchange
> **Comments:**
> **username_1**: That is just a spike that should be excluded but google finance has little (to no) incentive to fix data quality issues.  

---

## 2 answers

### Answer by username_1 on 2022-10-03. Score: 1

That data is just a spike that should be excluded but google finance has little (to no) incentive to fix data quality issues.

For example, [CEIC](https://www.ceicdata.com/en/iran/foreign-exchange-rates/foreign-exchange-rate-central-bank-of-iran-cbi-end-of-period-us-dollar) reports that the exchange rate reached an all-time high of 44,070.000 IRR/USD in Jul 2018 and a record low of 1,439.000 IRR/USD in Oct 1992. This is against the USD - but unless GBPUSD moved like depicted in the chart, the exchange rate will be in line with the cross exchange rate.

IRR is usually quoted as shown above, and not as shown in the screenshot of the question (which is the inverse). It also does not matter much though, because it will more or less be the inverse of the rate. On Bloomberg, there is also no spike on that day.  
[![enter image description here](https://i.sstatic.net/TeWzE.png)](https://i.sstatic.net/TeWzE.png)

In any case, if the outlier is so large, it is thankfully easy to determine it is a bad data point. It is a lot more difficult in cases that could make sense in theory. Data quality is a huge problem as [Nick Patterson](https://www.thetalkingmachines.com/episodes/ai-safety-and-legacy-bletchley-park) states (the whole podcast starts at 16:40, his discussion about his job at [Renaissance Technologies](https://en.wikipedia.org/wiki/Renaissance_Technologies) starts at 29:55 - a sentence before that is also helpful). He is explaining that at his hedge fund, they had 7 Phd's just cleaning data and organizing the databases.


---

### Answer by username_2 on 2022-10-02. Score: -2

On August 1st 2014 violence shatters Gaza cease-fire hours after taking effect
Israel and Hamas agreed to a 72-hour humanitarian cease-fire starting Friday, but the kidnapping of an Israeli solider and heavy exchanges of fire two hours after the truce took effect unraveled it.

> **Comments:**
> **username_3**: The exchange rate in that screenshot is definitely wrong. The Rial would have appreciated (which would be due to good news only) about 57 Million percent (which simply makes no sense against the EUR)!  

---

