What is the official currency in Iran?
The official currency is Rial, but ‘Toman’ means the same thing and is the common currency name people use.
Rial is equal to one hundred Dinars. One Rial is 0.108055 grams of pure gold.
What are the common banknotes?
The common banknotes in Iran are:
1000, 2000, 5000, 10000, 20000, 50000, 100000, 500000 and 1000000 Rials.
Common coins are 500, 1000, 2000 and 5000 Rials.
What does Rial mean?
The Persian word ‘Rial’ came from the Spanish and Portuguese word “real.”
What is the history of Iranian currency?
Rial was first known in 1798. It was a global coin, holding the value of 1250 Dinars (one-eighth of Toman).
In 1928, the currency ‘Toman’ was suddenly abandoned, and ‘Rial’ was chosen as the official currency unit.
The eleventh government in 2019 decided that the Iranian currency should be Toman, and the four zeros should be omitted from the end of its numbers. It will take until 2022 to replace the coins and notes.