Iran Money and Currency
Rial and Toman
Rial (ريال) is the official currency of Iran; however due to an informal convention and people’s preferences, prices are often quoted in Tomans. One Toman is equal to ten Rials. As a general guide, written prices are given in Rials and prices quoted in conversation are in Tomans. To confuse you even further, shopkeepers will often omit the denomination of high prices, so you may be told a jar of coffee costs 2 Tomans (meaning 2,000 Tomans or IR 20,000) and that a fine rug will cost 3 Tomans (meaning 3,000,000 Tomans or IR 30,000,000).
As a rule of thumb you can literarily put your thumb on one zero of any bank note to see what the note is in Tomans. in everyday conversation nobody uses Rials and as always you can ask your guide or an Iranian friend when in doubt. but i can assure you that after some time you will get the hang of it. Most travelers spend the first few days of their trip coming to grips with this mind-boggling system, upon arrival the first shocking news most travelers get is that they can’t use their cards in Iran!
Iran’s Banking system
unfortunately it’s true, due to the restrictions, Iran’s banking system is not connected to the world at the moment so even though there are numerous ATMs scattered through the country you will not find any that accepts visa or master or any other foreign card. but don’t worry because upon arrival you will find some money exchange offices in the airport that can exchange your money to the Iranian currency but be aware that you have to bring all your money in cash with you. there maybe some exchange offices in Tehran that could transfer the money for you but there aren’t any official rate for this work and you could get ripped off if you find yourself in an unofficial exchange office (there are many, sometimes with no indication).
The most popular currencies that are being exchanged in Iran are USD and Euro’s. The easiest way to change money is at an official money- exchange office.
Exchange rate is another confusing matter regarding currency in Iran. as of now Iran has 2 exchange rate, one is the government’s rate which is always significantly lower and the market’s rate which is the unofficial and most used rate in the country, all exchange offices use the second one and it is the normal price among the population. googles rate upon searching is the government’s rate so don’t use it for your planning.
Iranian Currency, banknotes and coins
There are numerous banknotes and coins in use in Iran and bellow you can see all of them, note that some of them are quite similar so pay attention when you are paying for something to not confuse them.
The bank notes are:
500 Toman (5,000 Rials)
1,000 Toman (10,000Rials)
2,000 Toman (20,000Rials)
5,000 Toman (50,000Rials)
10,000 Toman (100,000 Rials)
Iran Cheque 50,000 Toman (500,000 Rials)
Iran Cheque 100,000 Toman (1,000,000 Rials)Current coins in use are:
100 Toman (1,000 Rials)
200 Toman (2,000 Rials)
500 toman (5,000 Rials)
*Iran Cheque and Banknotes are both common and in use, but 100.000 Toman banknote is less used on the streets
*There are lower banknotes and Coins in use but seeing them is a rarity like 50,100 and 200 Toman Banknotes and 25 and 50 toman coins.
*The other side of the notes might be different with each other (some of them were printed for a special occasion)
Adventure Iran only accept US $ and Euro bank notes. we do not accept credit card or travelers cheques. If you have question or you want more information you can CONTACT US.