Iranian rial facts for kids

Quick facts for kids Iranian rial
ISO 4217 Code	IRR
Official user(s)	Iran
Unofficial user(s)	Afghanistan Saudi Arabia (Hajj only) Syria Iraq Turkey
Inflation	30.9% (April 2024)
Superunit
10	toman تومان plural تَوامين‎ (tavāmīn) or تومانات‎‎ (tūmānāt)
Subunit
1⁄100	dinar (obsolete)
Symbol	﷼
Coins
Freq. used	Rls 5,000
Rarely used	Rls 1,000, Rls 2,000
Banknotes
Freq. used	Rls 10,000, Rls 20,000, Rls 50,000, Rls 100,000, Rls 500,000, Rls 1,000,000, Rls 2,000,000
Rarely used	Rls 1,000, Rls 2,000, Rls 5,000
Printer	SPMO (Since 1982) De La Rue (former) American Banknote Corporation (former)

The rial (Persian: ریال ایران, romanized: riyâl-è Irân) is the official money used in Iran. Its symbol is ﷼. The rial is divided into 100 smaller units called dinars. However, because the rial is not worth much today, dinars are almost never used.

Even though you can use card machines (POS terminals) in Iran, the country is not part of big international card networks. This is because of rules and agreements between Iran and other countries. So, if you visit Iran, it's a good idea to put money on a local prepaid card.

There isn't an official symbol for the rial that everyone uses. But the Iranian standards group, ISIRI, created a symbol for it to be used on typewriters.

Iran's government has decided to change its money system. They plan to remove four zeros from the rial. The new money will be called the toman, which was an old Iranian currency. One toman will be worth 10,000 rials.

History of the Rial Currency

The rial was first used in Iran in 1798. It was a coin worth 1,250 dinars. This was also one-eighth of a toman.

In 1825, the rial was no longer made. Instead, the qiran was used. The qiran was part of a decimal system, meaning it was based on units of 10. It was worth one-tenth of a toman.

The rial came back in 1932. It replaced the qiran at the same value. The new rial was divided into 100 new dinars.

Before 1932, Iran used different coins and currencies. Some of their names are still used in Iranian sayings today:

Understanding the Rial's Value

The value of the Iranian rial has changed a lot over time. It is often compared to other major currencies like the U.S. dollar.

The Iranian rial's value compared to the U.S. dollar. It changed a lot after 2011.

Inflation in Iran between 2002 and 2006 was around 14%.

In 1932, the rial's value was linked to the British pound. Later, in 1945, it was linked to the U.S. dollar. For example, in 1957, US$1 was worth Rls 75.75.

After the Iranian Revolution in 1979, the rial's value dropped quickly. Many people moved their money out of the country. This caused the rial to become much weaker. For example, in 1978, US$1 was about Rls 71. But by 1999, US$1 was worth Rls 9,430.

The Central Bank of Iran tries to control the rial's value. They manage how much foreign money is available. This helps them influence the rial's strength.

Sometimes, there is a "black market" where people exchange foreign money. This market offers different rates than the official ones. In 2010, international rules made it harder to transfer money to and from Iran. This caused the difference between official and black market rates to grow.

In January 2012, the rial lost half its value in just a few days. This happened after new international rules were put in place against Iran's central bank. This made Iranian products cheaper for other countries to buy.

By June 2020, the rial's value had dropped a lot again. This led to high inflation, meaning prices for goods and services increased quickly. Experts believe this happened because the government printed too much money.

The rial's value also dropped by 29% after protests began in September 2022. This followed the death of Mahsa Amini.

How the official exchange rate between the US dollar and Iranian rial changed from 2000 to 2017.

Changing the Money System

Because the rial has such a low value, there have been many talks about changing the currency. This is called "redenomination." It means removing zeros from the banknotes.

In 2008, the Central Bank of Iran said it planned to remove four zeros. They also wanted to rename the currency the toman. As a first step, they printed large "traveller's cheques" that looked like banknotes. These had "50" and "100" printed on them, meaning 50,000 and 100,000 tomans.

In 2019, the Iranian government officially approved a plan to change the currency. One toman will now be equal to Rls 10,000. This change will happen gradually over about two years.

Coins of Iran

Old Rial Coins

A golden daric coin from the ancient Persian Empire.

In the late 1700s and early 1800s, silver coins were made. They came in values like 1/8, 1/4, 1/2, and 1 rial.

Modern Rial Coins

When the rial was brought back in 1932, new coins were made. These included values like 1, 2, 5, 10, and 25 dinars. There were also coins for Rls 1/2, Rls 1, Rls 2, and Rls 5. The silver coins were Rls 1/2 to Rls 5. Gold coins called pahlavi were also made, starting at Rls 100.

Over the years, the sizes of the coins changed. In 1953, silver coins were no longer made. The smallest coin became 50 dinars. In 1972, Rls 20 coins were introduced.

After the Islamic Revolution in 1979, the pictures on the coins changed. The image of the Shah (king) was removed. New coins were made in 1992, including smaller Rls 1, Rls 5, Rls 10, and Rls 50 coins. New Rls 100 coins were also added.

In 2004, the Rls 50, Rls 100, and Rls 250 coins became smaller. New Rls 500 coins were also introduced. Even newer and smaller Rls 250 and Rls 500 coins came out in 2009. That year, a new Rls 1,000 coin was also made. In 2010, Rls 2,000 and Rls 5,000 rial coins were added.

Digital Rial

Iran's Digital Rial.

The Digital Rial is a new type of money. It is based on the Modern Rial. The Central Bank of Iran plans to release it.

Current Coins in Use

Here are some of the Iranian rial coins you might see today:

Banknotes of Iran

In 1932, the "Bank Melli Iran" started printing banknotes. They came in values of Rls 5, Rls 10, Rls 20, Rls 50, Rls 100, and Rls 500. Later, Rls 1,000 notes were added in 1935, and even higher values like Rls 5,000 and Rls 10,000 in 1952.

In 1961, the Central Bank of Iran took over printing paper money. After the Islamic Revolution in 1979, the banknotes were changed. Pictures of the Shah were covered up. New banknotes were then printed with values like Rls 100, Rls 200, Rls 500, Rls 1,000, Rls 5,000, and Rls 10,000. Rls 2,000 notes were added in 1986.

Today, the Central Bank of Iran issues these notes. Each note has the signature of the bank's president. Lower value notes like Rls 100, Rls 200, and Rls 500 are not very common anymore. People often carry many Rls 100,000 notes for daily use.

Banknotes from the Qajar Era (1850–1925)

These banknotes were used during the Qajar dynasty in Iran.

Old Banknotes
Image		Value	Size (mm)	Main color		What's on it
Front	Back					Front	Back
		1 toman	130 × 67		Silver	Nasser al-Din Shah Qajar	Value, "Imperial State of Iran"
		5 tomans	136 × 69		Tan	Nasser al-Din Shah Qajar	Value, "Imperial State of Iran"
		50 tomans	142 × 71		Gray	Nasser al-Din Shah Qajar	Value, Lion and Sun

Banknotes from Reza Shah's Time (1925–1941)

These notes feature Reza Shah Pahlavi, who was the Shah of Iran.

Old Banknotes
Image		Value	Size (mm)	Main color		What's on it
Front	Back					Front	Back
		Rls 5	130 × 67		Green	Reza Shah Pahlavi	Value, Lion and Sun with crown
		Rls 10	136 × 69		Brown	Reza Shah Pahlavi	Value, Lion and Sun with crown
		Rls 20	142 × 71		Purple	Reza Shah Pahlavi	Value, Lion and Sun with crown
		Rls 500	142 × 71		Navy	Reza Shah Pahlavi	Tomb of Cyrus
		Rls 1,000	148 × 73		Silver	Reza Shah Pahlavi	Mount Damavand

Banknotes from Mohammad Reza Shah's Time (1942–1978)

These banknotes show Mohammad Reza Shah Pahlavi, the last Shah of Iran.

Old Banknotes
Image		Value	Size (mm)	Main color		What's on it
Front	Back					Front	Back
		Rls 10	130 × 67		Silver	Mohammad Reza Shah Pahlavi	Imperial seal of Darius the Great
		Rls 10	130 × 67		Silver	Mohammad Reza Shah Pahlavi	Avicenna Mausoleum
		Rls 10	130 × 67		Silver	Mohammad Reza Shah Pahlavi	Amir Kabir Dam
		Rls 20	130 × 67		Orange	Mohammad Reza Shah Pahlavi	Amir Kabir Dam
		Rls 50	130 × 67		Green	Mohammad Reza Shah Pahlavi	Mohammad Reza Shah Pahlavi in a public meeting
		Rls 50	130 × 67		Green	Mohammad Reza Shah Pahlavi	Pasargadae
		Rls 100	136 × 69		Purple	Mohammad Reza Shah Pahlavi	Social services
		Rls 100	136 × 69		Purple	Mohammad Reza Shah Pahlavi	Marble Palace
		Rls 100	136 × 69		Purple	Reza Shah Pahlavi and Mohammad Reza Shah Pahlavi	50th Anniversary of the establishment of the Pahlavi dynasty
		Rls 200	136 × 69		Blue-green	Mohammad Reza Shah Pahlavi	Shahyad Tower
		Rls 500	142 × 71		Silver-yellow	Mohammad Reza Shah Pahlavi	Marlik Cup
		Rls 1,000	148 × 73		Brown	Mohammad Reza Shah Pahlavi	Tomb of Hafez
		Rls 5,000	154 × 75		Blue	Mohammad Reza Shah Pahlavi	Golestan Palace
		Rls 10,000	160 × 77		Green	Mohammad Reza Shah Pahlavi	Baharestan

Banknotes with Imam Reza Shrine (1980–1982)

These banknotes feature the Imam Reza shrine, an important religious site in Iran.

Old Banknotes
Image		Value	Size (mm)	Main color		What's on it
Front	Back					Front	Back
		Rls 100	142×71		Purple	Imam Reza shrine	Chaharbagh School
		Rls 200	148×73		Blue-green	Imam Reza shrine	Avicenna Mausoleum
		Rls 500	154×75		Brown	Imam Reza shrine	Winged horse
		Rls 1,000	160×77		Pink	Imam Reza shrine	Tomb of Hafez
		Rls 5,000	166×79		Purple	Imam Reza shrine	Tehran's Oil refinery
		Rls 10,000	172×81		Green	Imam Reza shrine	Baharestan

Banknotes from the Revolution Series (1981–2005)

These banknotes were issued after the Islamic Revolution.

Old Banknotes
Image		Value	Size (mm)	Main color		What's on it
Front	Back					Front	Back
		Rls 100	130×67		Purple	Hassan Modarres	Old building of Islamic Consultative Assembly
		Rls 200	136×69		Grey	Jame Mosque of Yazd	Agricultural Workers
		Rls 500	142×71		Gray-green	Friday prayers	University of Tehran main entrance
		Rls 1,000	148×73		Brown	Feyziyeh School	Dome of the Rock
		Rls 2,000	151×74		Purple	Liberation of Khorramshahr	Kaaba
		Rls 5,000	154×75		Red	Revolutionaries	Fatima Masumeh Shrine
		Rls 10,000	160×77		Blue	Revolutionaries	Imam Reza shrine

Banknotes with Ruhollah Khomeini (1992–2019)

These banknotes feature Ruhollah Khomeini, a key figure in the Islamic Revolution.

Newer Banknotes (2019–2023)

These newer banknotes are designed to help with the change to the toman currency. They show the value in both tomans and rials. The rial value has the last four zeros faded out.

The Central Bank also issues special "cash cheques" for higher values because there aren't enough regular banknotes. These cheques work like cash.

• Rls 500,000 (50 tomans) cheque (2019)
• Rls 1,000,000 (100 tomans) cheque (2020)
• Rls 2,000,000 (200 tomans) cheque (2023)

Cash Cheques

The highest value regular banknote is Rls 100,000. But you can also use "Iran Cheques" for larger amounts like Rls 500,000, Rls 1,000,000, and Rls 2,000,000. These are treated just like cash.

Before, big state banks could print their own "cash cheques." These were like special bank checks for fixed amounts that looked like banknotes. Once you got them from a bank, you could use them as cash for a year. The Central Bank now issues its own Iran Cheques.

How Rial Banknotes Are Printed

The Security Paper Mill, also known as TAKAB, is a special paper mill. It is owned by the Central Bank of Iran. TAKAB is in the city of Amol. Its job is to make the special security paper used for printing Iranian rial banknotes.

Images for kids

• 

  US dollar – Iranian rial official exchange rate graph (2000-2017)

See also

In Spanish: Rial iraní para niños

• Electronic currency in Iran
• Iranian qiran
• Iranian toman
• International rankings of Iran in economy
• Shetab Banking System
• Economy of Iran
• Iranian Oil Bourse
• Saudi riyal (﷼)