If you are planning to travel to Iran, you have probably made a decision about your destination cities, booked your flights, made a hotel reservation, and so on. Now it is time to ask yourself some question about Iranian Currency and money exchange in Iran.
You may have some questions about: What is Iran’s currency? In what values are the banknotes and coins published? Where to exchange my money? What is the exchange rate in Iran? In this post, we try to answer all these questions.
One important thing to remember is that, due to the sanctions over Iran, no credit cards are working at the current time. So, you need to bring enough cash with yourself when traveling to Iran.
What is Iran’s currency?
The official currency in Iran is Rial (code IRR). However, when talking about prices in Iran you may hear “Toman” which is equal to ten Rial. Despite this usage, amounts of money and prices of goods are virtually always written in Rial. For example, the sign on a bottle of milk states the price in Rial, e.g., "20,000 Rial," even though the clerk, if asked, would say that the milk costs "2000 Toman."
In what values are the banknotes and coins?
The Central Bank of Iran publishes the banknotes in the values of 5000, 10000, 20000, 50000, 100000, 500000, and 1000000 Rial. You can find both Farsi and English numbers on the banknotes.
There are coins in the values of 250, 500, 1000, 2000, and 5000 Rial. Coins are marked only in Farsi numerals.
What is the exchange rate in Iran?
You should be aware that, there are two different exchange rates in Iran. The first one is the official one, and the other one is the market rate.
The official exchange rate in Iran is always much lower than the market rate. Therefore, if you want to exchange your money with the highest value you need to find an exchange office in the city, at the airport, or at the local bazaar.
The best way to find out the exchange rate in Iran is by surfing the internet. There are many websites which provide daily exchange rates. If you are walking in a bazaar or business district of the town, you can easily notice the exchange rate by checking the electronic billboards at every exchange window shop.
Where to exchange my money?
One thing to always remember that is the one and only place to exchange your money is a licensed exchange office. Almost all the licensed exchange offices in Tehran have a branch in Ferdowsi Street. There are also some in Tajrish Square or other parts of the city. In every city in Iran, you will definitely find licensed exchange offices in main streets and local markets.
In addition, you can exchange your money at international airports in Iran, such as Imam Khomeini International Airport in Tehran, Shahid Hasheminejad International Airport in Mashhad, Shahid Dastgheyb International Airport in Shiraz, Tabriz International Airport, and Shahid Beheshti International Airport in Isfahan.