Iranian rial IRR

The Iranian rial is the official currency of Iran. It is divided into 100 dinars. Banknotes are available in denominations of 100, 200, 500, 1000, 2000, 5000, 10,000, 20,000, and 50,000 rials. Coins are issued in 50, 100, 250, and 500 rials.

History of the Iranian Rial

Before 1932, Iran used the toman, a monetary unit of Mongol origin. The rial replaced the toman at a rate of 1 rial = 10 tomans. Even today, prices are often expressed in tomans in local markets. In 2016, the Iranian government announced plans to reintroduce the toman as the country's main currency.

Interesting Facts about the Iranian Rial

The Iranian rial is unofficially used in four other countries but only in smaller towns. It does not have an official symbol; the current symbol is used mainly for printing purposes. Iran is not planning an official symbol as it intends to reinstate the toman as its currency.