Rey, Iran Rey, Iran Rey or Ray (; , Šahr-e Rey, “City of Ray”), also known as Rhages (; , or Europos (Ευρωπός) "Rhagai"; or "Rhaganae") and formerly as Arsacia, is the capital of Rey County in Tehran Province of Iran, and the oldest existing city in the province. Ray today has been absorbed into the Greater Tehran metropolitan area. Ray is connected via the Tehran Metro to the rest of Tehran and has many industries and factories in operation. Limited excavations of what was not bulldozed began in 1997 in collaboration with the Iranian Cultural Heritage and Tourism Organization (ICHTO), the
Economy of Iran most Iranians have difficulty obtaining small home loans, 90 individuals secured facilities totaling $8 billion. In 2009, Iran's General Inspection Office announced that Iranian banks held some $38 billion of delinquent loans, with capital of only $20 billion. Foreign transactions with Iran amounted to $150 billion of major contracts between 2000 and 2007, including private and government lines of credit. In 2007, Iran had $62 billion in assets abroad. In 2010, Iran attracted almost $11.9 billion from abroad, of which $3.6 billion was FDI, $7.4 billion was from international commercial bank loans, and around $900 million consisted of loans and