Almost all tourists face this question:
What is the Official currency in Iran used for trading?
The Iranian official currency is ‘Rial’.
Note: In their conversations, Iranian people use the unit ‘Toman’, and seldom tourists might hear Rial in conversations. In fact Toman is a made-up word only use In Iranian daily life. In the whole cases relate to banking system (governmental offices, banks, ATM, hotels, motel, boutique houses, airplane companies, bus companies, hospitals, service companies, etc.) Rial is used.
* Don’t worry; in this article, every aspect of Iranian currency and related subjects will be explained in details*
Note: The symbol for Iranian Rial is IRR. There is no symbol for Toman, because as mentioned before, it is a made-up word and is only used in spoken language and has no official validity.
Are Rial and Toman equal?
No, one Toman equals ten Rials
500 IRR equals 50 Toman
5000 IRR equals 500 Toman
50,000 IRR equals 5000 Toman
500,000 IRR equals 50,000 Toman
Forms of money in Iran:
Coin: (1000 IRR),(2000 IRR),(5000 IRR).
Bill: (1000 IRR),(2000 IRR),(5000 IRR),(10,000 IRR),(20,000 IRR),(50,000 IRR),(100,000 IRR),(500,000 IRR),(1,000,000 IRR).
1: these days, (1000 IRR) bill and coin and (2000 IRR) bill and coin are rarely found.
2: most bills in in Iran have two forms, both of which are accepted and common. Before changing your money take a look at our gallery and see forms of Iranian bills.
3: central Bank of Iran distributes two valuable bills: 500,000 IRR roughly (equal to $5) and 1,000,000 IRR (roughly equal to $10) which are called ‘Teravel’ in Persian.
4: Roughly, each dollar equals 100,000 IRR, and each euro equals 120,000 IRR, but before changing your money, get aware of the changing rates by our consultant.
Tourists have two ways to change their money:
- Changing at currency exchanges:
Note: because of their higher rate compared to banks, this way is recommended.
Note: The working hours of currency exchanges are not distinct, but they usually work from 8 AM to 3 PM.
*Official currency exchanges are called ‘Sarafi’ in Iran.
- Changing in banks:
- At the airport banks
- At the currency department of banks in cities
Note: they have lower rates compared to the official currency exchanges.
- The banking system of Iran is under economic sanctions imposed by the U.S.A., so none of international debit cards are useful in Iran.
- Only few boutique houses, hotels, restaurants, shops, etc. accept dollar and euro, so only count on your Iranian cash or Iranian debit cards during traveling to Iran.
- Most historical and natural entrance fees must be paid with Iranian cash, and booking bus, airplane, and train ticket requires Iranian debit card.
- Public transportation fees in big cities like Tehran, Shiraz, Isfahan, Tabriz must be paid with transportation card and in small cites must be paid with cash.(more information In transportation article.)
- ‘Fantastic Iran Travel’, for its costumers’ convenience, opens tourist accounts with Iranian debit cards in Iranian banks for tourists to deposit money and use safely.