Iranian Rial Currency | Iran Rial Notes Coins

Iranian Rial

Iranian Rial Currency:

Iranian Rial is the official legal tender of Iran. There still exists the practice of expressing the value of goods and services and the quantity of money in the units of “tomans”, an unofficial unit equivalent to 10 rials. More formally, it is expressed in the units of rial, though it is a smaller unit compared to toman. Due to the reduced subsidization of the exchange rate vis-à-vis the US dollar, the Iranian rial had to be devalued in July 2013 to almost half of its previous value. There has been a proposal by the Iranian Government to switch over from its present rial to toman and the proposal was yet to be approved by the Iranian Parliament.

The onus of issuance of the currency lies with the Central Bank of the Islamic Republic of Iran. The frequently used banknotes of rials are of the denominations 2000, 5000, 10000, 20000, 50000 and 100000 rials and the rarely used notes are in the denominations of 100, 200, 500 and 1000 rials. The coins that are in active use are 500, 1000, 2000 and 5000 rials and the coins of rare usage are of the denominations 50, 100 and 250 rials.

Iranian Rial

Iranian Rial (Iran):

Code:  IRR

Symbol: Iranian Rial.svg

Superunit:

10= toman

Banknotes: 1

00, 200, 500, 1,000 2,000, 5,000, 10,000, 20,000, 50,000, 100,000 rials

Coins:

50, 100, 250, 500, 1,000, 2,000, 5,000 rials

Central bank:

Central Bank of the Islamic Republic of Iran

Unofficial users:  

Afghanistan

Iraq

Saudi Arabia

 Syria

 

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