Iranian rial
Worldwide use:
- Iran
Description:
The Iranian Rial is the official currency of Iran. Iran’s currency used to be the Toman and prices are still frequently quoted in Tomans, even though the currency is no longer distributed. One Rial is worth 100 new Dinars but as a Dinar is worth so little, they are not used. Coins are distributed in 250, 500 and 1000 Rials and banknotes come in 100, 200, 500, 1000, 2000, 5000, 10000, 20000, 50000 and 100000 Iranian Rials.
Following the Islamic Revolution in 1979, Iranian Rial banknotes that showed the Shah’s face were overprinted with patterns. New Rial notes were then issued in 1986.
Origin:
The Iranian Rial was established in 1798. It was a coin equal to 1250 Dinar or ⅛ of a Toman. In 1825 the Qiran replaced the Iranian Rial before the Rial came back again in 1932. Following the Islamic Revolution in 1979, capital flight caused a steep decline in the value of the Iranian Rial and in 2014 it was the lowest valued currency in the world.
Component units:
- dinar (100)
Date introduced:
- 1932
Central bank:
- Central Bank of the Islamic Republic of Iran
Printer:
Mint: