Is it your first time traveling to Iran? So maybe this is the reason that you are here to read about Iran’s currency. As you may know, Iran’s currency is a bit confusing for foreigners. Here you can find a complete guide to find details about Iran currency.
First of all, what is Iran’s official currency? Rial is the official currency in Iran. But wait a minute! Since this is not the only answer. Traveling Iran, most of the time you hear the prices in toman. So which one is true? Read on!
Read also: Tips You Wish to Know about Iran Culture
What is confusing about Iran’s currency?
Rial (IRR) is the official currency in Iran. The currency is what you see on the banknotes, coins, and uses in banks and administrations. The price tags and prices printed on packaged foods are in rials as well.
However, people in everyday life use another currency named ‘toman’. One toman equals 10 rials. In other word, you should drop a zero from rial in order to get it in toman.
Remember Iranians are one of the friendliest people in the world and they are aware that tourists may not be acquainted with different units of Iran currency rials and tomans. Hence, be relax since most of the time, they consider this fact and you can ask whenever you doubt a figure or a price.
Read also: How Much Money Do You Need to Travel Iran?
What are Iranian banknotes and coins?
There are 100000, 50000, 20000, 10000, 2000, 100 and 500 rials banknotes in Iran. In addition, the English figure of the banknotes is written on their back.
The Central Bank of Iran also issues banknotes in 500000 and 1000000 rials, which are known as Iran cheques.
The 500,000 rials Iran cheque is issued in three series named old series (2008) in brown color, first series (2014) in blue color, and second series (2019) in red color.
The 1,000,000 Iran cheque has 2008 version in brown color and 2009 version in blue color.
Besides, the coins are 5000, and rarely 200 or 100, and 50 rials. Although except for 5000 rial coins, others are used rarely every day. However, it is good to know about different banknotes and coins of your destination.
Most of the times, Iranians use bank cards and domestic debit cards to run their errands. Therefore, cash money is not used very much in everyday life of people. Iranians use coins seldom and 100,000 rials, 50,000 rials, and 20,000 rials banknotes are respectively in the market.
Know more about Iran’s currency, how are Persian numbers written?
The figures are written in the Eastern Arabic numerals in Iran. Hence, it may be a good idea to learn or have numbers in Persian to read and understand the prices.
Read also: Things to Know about Persian Language before Traveling Iran
How much money to bring to Iran as a traveler?
The exchange rate of the dollar to the rial is very high, hence Iran is considered a budget destination for most travellers. Remember that the maximum amount that each passenger can bring to Iran is $5000- $10000.
As none of the credit cards work in Iran, you should estimate your budget if you want to bring cash to the country. Alternatively, you can try the Iranian debit card!
Read also: Cash or Credit? What You Need to Know About Iranian Credit Cards
Is Iran a cash country?
As mentioned above, none of the credit cards are working in Iran. If you prefer not to bring cash to the country, there is a way! You can apply for an Iranian debit card. In this way, you can recharge the card, which is a short-term credit card for tourists, whenever you want. You can easily refund your balance at the end of your trip.
Which currency is the best for bringing to Iran?
High-denomination euros or dollars printed since 1996 are the best currencies you can bring Iran.
Since they are exchanged at better rates. Remember almost everywhere in Iran you should have rials.
Actually, except for some hotels, travel agencies, and carpet shops, all other shops and places in Iran do not accept other currencies.
Hence it is a wise decision to exchange money or use the Iranian debit card.
Exchange money in Iran
There are two exchange rates in Iran, market, and official, the market rate is the rate for the exchange of tourists. In Iran, you can exchange your money in exchange shops in the cities. however, there is no ATM for money exchange.
To get the latest update on the Iranian Rial Exchange rate you can always refer to Bonbast.com
Last but not the least
Knowing about the currency of your destination helps you to have a better estimation of your trip and your budget.
Nobody expects you to know the currency, price, and exchange like a local. Besides, Iranians are great hosts who enjoy helping their guests from other countries. Hence, be ready to travel to this amazing country!