View source for Iranian rial

{{Short description|Currency of Iran}}
{{Use mdy dates|date=October 2023}}
{{Infobox currency
| local_name1 = ریال ایران
| local_name_lang1 = fa
| image_1 = Iranian Rial.svg
| image_width_1 = 80px
| iso_code = IRR
| subunit_ratio_1 = {{frac|100}}
| subunit_name_1 = dinar
| subunit_inline_note_1 = (obsolete)
| superunit_ratio_1 = 10
| superunit_name_1 = [[Iranian toman|toman]] {{lang|fa|تومان}}
| superunit_inline_note_1 = plural {{lang|fa|تَوامين‎}} (''tavāmīn'') or {{lang|fa|تومانات‎‎}} (''tūmānāt'')
| symbol = {{lang|fa|﷼}}
| symbol_comment = in [[Persian script|Persian]]<br/>Rl/Rls or IR in [[Latin alphabet|Latin]]
| using_countries = [[Iran]]
| unofficial_users = {{plainlist|
* [[Afghanistan]]<ref>{{cite news|author=Matthew Rosenberg |author2=Annie Lowrey |url=https://www.nytimes.com/2012/08/18/world/middleeast/iranian-currency-flows-into-afghanistan-markets.html|title=Iranian Currency Traders Find a Haven in Afghanistan|newspaper=[[The New York Times]] |date=August 17, 2012 |access-date=2016-10-25}}</ref>
* <ref>{{cite book |editor=Anoushiravan Ehteshami |editor2=Mahjoob Zweiri|date=2011|title=Iran's Foreign Policy: From Khatami to Ahmadinejad|location=Eastbourne|publisher=[[University of Sussex|Sussex Academic Press]]|isbn=978-0863724152|page=134|quote=Not only is the Iranian Toman now traded there, but many Iranian goods are bought and sold throughout the southern half of Iraq.}}</ref><ref>{{cite web|url=http://www.aljazeera.com/news/middleeast/2012/11/20121128328276958.html|title=Iran's currency woes hurt wallets in Iraq|publisher=[[Al Jazeera English|Al Jazeera]] |date=November 2, 2012 |access-date=2014-11-19}}</ref><ref>{{cite news|author=Angus McDowall|url=https://www.independent.co.uk/news/world/middle-east/iranian-pilgrims-risk-lives-crossing-border-8906603.html|title=Iranian pilgrims risk lives crossing border|newspaper=[[The Independent]] |date=November 15, 2003 |access-date=2016-10-25 |quote=Iranian currency has become commonly accepted by Iraqi shopkeepers and hoteliers, according to pilgrims who recently returned to Iran. The pilgrims saw large numbers of other Iranians at the shrines of Ali and Hussain, the first and third Shia Imams.}}</ref><ref>{{cite magazine|author=Aseel Kami|url=http://www.arabianbusiness.com/-we-decided-not-receive-iranian-currency-any-more--444552.html|title='We decided not to receive Iranian currency any more'|magazine=[[Arabian Business]] |date=February 11, 2012 |access-date=2016-10-25}}</ref>
* [[Saudi Arabia]] ([[Hajj]] only)<ref>{{cite news|first=Irfan|last=Mohammed|url=http://www.arabnews.com/news/450737?page=3|title=Money changers stay away from Iranian Toman|newspaper=[[Arab News]] |date=May 7, 2013 |access-date=2014-11-19}}</ref><ref>{{cite book |last=Adelkhah|first=Fariba|date=2015|series=Iranian Studies|volume=27|title=The Thousand and One Borders of Iran: Travel and Identity|publisher=[[Routledge]]|isbn=978-1317418979|page=225|quote=...a Lari pilgrim will take care to buy a chador from Lari who have shops Mecca. Similarly, the Iranian Toman is accepted currency in the holy places, and most travellers do not even bother to change money at the airport or hotel.}}</ref><ref>{{cite web|first=Marziyeh|last=Ebrahimi|url=http://www.gonomad.com/5065-mecca-and-medina-saudi-arabia-for-hajj|title=A Trip to Mecca and Medina Saudi Arabia for Hajj|date=May 23, 2013|publisher=GoNOMAD |access-date=2016-10-25 |quote=They also accept Iranian currency, even those who sell on the streets. Many Arab people can speak [[Persian language|Persian]].}}</ref><ref>{{cite web|url=http://www.iranpressnews.com/english/source/019094.html|title=Saudis refuse Iranian currency from Iranian pilgrims to Mecca|publisher=Iran Press News |date=January 7, 2007 |access-date=2016-10-25}}</ref>
* [[Syria]] 
* [[Iraq]]<ref>{{cite book |last=von Maltzahn|first=Nadia|date=2013|series=Library of Modern Middle East Studies|volume=37|title=The Syria-Iran Axis: Cultural Diplomacy and International Relations in the Middle East|location=London|publisher=[[I.B.Tauris]]|isbn=978-1780765372|page=199|quote=...shops have [[Persian language|Persian]] on their signs and sellers usually accept the Iranian rial... Walking around the small alleys surrounding the shrine of Sayida Ruqayya in the old town of Damascus, one felt as if one were in an Iranian bazaar. 'Come here, come here, two tuman, two tuman', vendors shouted in Persian to the Iranian crowds passing, trying to attract their attention. They offered clothes, ..., hagled with the pilgrims in Persian and accepted Iranian currency.}}</ref>
* [[Turkey]]
}}
| frequently_used_banknotes = Rls&nbsp;10,000, Rls&nbsp;20,000, Rls&nbsp;50,000, Rls&nbsp;100,000, Rls&nbsp;500,000, Rls&nbsp;1,000,000, Rls&nbsp;2,000,000
| rarely_used_banknotes = Rls&nbsp;1,000, Rls&nbsp;2,000, Rls&nbsp;5,000
| frequently_used_coins = Rls&nbsp;5,000
| rarely_used_coins = Rls&nbsp;1,000, Rls&nbsp;2,000
| issuing_authority = [[Central Bank of Iran|CBI]] {{small|(Since 1960)}}<br/>[[Bank Melli Iran|BMI]] {{small|(1932–1960)}}
| printer = [[Security Printing and Minting Organization|SPMO]] {{small|(Since 1982)}}<ref>{{cite news|url=https://www.tehrantimes.com/news/10159/A-Tour-of-CBI-s-Security-Printing|title=A Tour of CBI's Security Printing|newspaper=Tehran Times|date=April 28, 1998}}</ref><br>[[De La Rue]] {{small|(former)}}<ref name="Shargi">{{Citation|last1=Shargi|first1=Ali|title=ESKENĀS|date=December 15, 1998|url=http://www.iranicaonline.org/articles/eskenas|volume=VIII/6|pages=615–624|publisher=Encyclopædia Iranica}}</ref><br>[[ABCorp|American Banknote Corporation]] {{small|(former)}}<ref name="Shargi"/>
| mint = [[Security Printing and Minting Organization|SPMO]]
| value = '''Official rate'''<br/>US$1 = Rls&nbsp;280,500<br/>(24 September 2023)
<br/>'''Free market'''<br/>US$1 = Rls&nbsp;639,000 (10 October 2024)<ref>{{cite web|url=https://www.iranintl.com/202302258795|title=قیمت دلار آزاد|date=February 25, 2023 }}</ref>
| inflation_rate = 30.9% (April 2024)
| inflation_title = 
| inflation_source_date = <ref>{{cite web|url=https://www.eghtesadnews.com/%D8%A8%D8%AE%D8%B4-%D8%A7%D8%AE%D8%A8%D8%A7%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%DB%8C-67/642307-%D8%AA%D9%88%D8%B1%D9%85-%D9%81%D8%B1%D9%88%D8%B1%D8%AF%DB%8C%D9%86-%D8%A7%D8%B9%D9%84%D8%A7%D9%85-%D8%B4%D8%AF-%D8%AC%D8%B2%D8%A6%DB%8C%D8%A7%D8%AA|title=تورم فروردین 1403 اعلام شد + جزئیات|website=Eghtesad News|date=May 2024}}</ref>
}}

The '''rial''' ({{langx|fa|ریال ایران|riyâl-è Irân}}; [[Currency symbol|sign]]: {{lang|fa|'''﷼'''}} ; abbreviation: '''Rl''' (singular) and '''Rls''' (plural)<ref>{{cite web|url=https://openknowledge.worldbank.org/bitstream/handle/10986/33367/33304.pdf?sequence=4|title=World Bank Editorial Style Guide 2020 - page 136 |website=openknowledge.worldbank.org |access-date=2022-08-01}}</ref><ref>{{cite book|url=https://books.google.com/books?id=bxatDwAAQBAJ&dq=Iran+Rls&pg=PA194|title=Iran Company Laws and Regulations Handbook Volume 1 Strategic Information and Basic Laws - page 194 |date=25 April 2016 |publisher=Lulu.com |isbn=9781433069994 |access-date=2022-07-20 }}</ref> or '''IR'''<ref>{{cite book|url=https://en.wikisource.org/wiki/The_World_Factbook_(1990)/Iran|title=CIA World Factbook 1990 - page 148 |chapter=Iran |website=en.wikisource.org |date=1 April 1990 |access-date=2022-07-20 }}</ref> in [[Latin alphabet|Latin]]; [[ISO 4217|ISO code]]: '''IRR''') is the official [[currency]] of [[Iran]]. It is subdivided into 100 [[dinar]]s, but due to the rial's low purchasing power the dinar is not practically used. While [[Point of sale|POS]] terminals are in use in Iran, the country does not participate in any of the major international card networks due to sanctions between it and the [[United States]]. Travelers are instead advised to load money onto a local prepaid card account.

There is no official symbol for the currency but the Iranian standard [[Institute of Standards and Industrial Research of Iran|ISIRI]] 820 defined a symbol for use on typewriters (mentioning that it is an invention of the standards committee itself) and the two Iranian standards ISIRI 2900 and ISIRI 3342 define a character code to be used for it. The [[Unicode]] Standard has a compatibility character defined {{unichar|FDFC|Rial sign|html=}}.<ref>For the proposal, see {{cite web|last=Pournader|first=Roozbeh|date=2001-09-20|title=Proposal to add Arabic Currency Sign Rial to the UCS|url=http://std.dkuug.dk/jtc1/sc2/wg2/docs/n2373.pdf}} It proposes the character under the name of ARABIC CURRENCY SIGN RIAL, which was changed by the standard committees to RIAL SIGN.</ref>

A proposal has been agreed to by the [[Islamic Consultative Assembly|Iranian Parliament]] to [[Redenomination|drop one zero at the end of number]], by replacing the rial with a new currency called the [[Iranian toman|toman]], the name of a previous Iranian currency, at the rate of 1,000 toman = 10,000 rials.<ref>{{Cite web|last=Bantillo|first=Pearl|title=Iran economy set for deeper contraction amid US sanctions, pandemic|url=https://www.icis.com/explore/resources/news/2020/10/09/10561412/iran-economy-set-for-deeper-contraction-amid-us-sanctions-pandemic|access-date=2020-10-22|website=ICIS Explore|language=en-US}}</ref>

==History==
{{See also|Banking and insurance in Iran#History}}

The rial was first introduced in 1798 as a [[coin]] worth 1,250 dinars or one-eighth of a ''[[Iranian toman|toman]]''. In 1825, the rial ceased to be issued, with the [[Iranian qiran|qiran]] subdivided into 20 shahi or 1,000 dinars and was worth one-tenth of a toman, being issued as part of a [[decimal currency|decimal system]]. The rial replaced the qiran at par in 1932, subdivided into 100 new [[dinars]].

Prior to [[decimalisation]] in 1932, these coins and currencies were used, and some of these terms still have wide usage in Iranian languages and proverbs:<ref>{{Cite news |title= Iranian Rial |url= http://www.bbc.co.uk/persian/seventhday/story/2007/02/070224_bs_money.shtml |publisher=BBC News Persian |date=2007-02-24 |language= fa |access-date=2007-06-10}}</ref>

{|class="wikitable"
|-
! Old currency !! Value 
!First Issue
|-
| Dinar
| -
|[[Umayyad Caliphate]]
|-
| Shahi
| 10 Dinars
|[[Iranian Intermezzo]]
|-
| Abbasi
| 100 Dinars
|[[Safavid Iran]]
|-
|Naderi
| 1,000 Dinars
|[[Afsharid Iran]]
|-
|Rial
| 10,000 Dinars
|[[Zand dynasty]]
|-
| Qiran
| 100,000 Dinars
|Early [[Qajar Iran]]
|-
|Toman
| 1,000,000 Dinars
|Late [[Qajar Iran]]
|}

==Value==
{{See also|Central Bank of Iran#Money supply|Seigniorage|Taxation in Iran#Customs|Economy of Iran|l3=Customs Administration in Iran}}

[[File:USD-IRR exchange rate.JPG|thumb|right|The Iranian rial remained relatively stable against the [[United States dollar|U.S. dollar]] until late 2011 when it lost two-thirds of its value within two years.<ref name=ABC>{{cite news|url=http://abcnews.go.com/Politics/wireStory/sanctions-biting-iran-budging-20044000?singlePage=true |title=Sanctions Biting but Iran Not Budging |date=August 23, 2013 |publisher=[[Associated Press|AP]] |author=Marjorie Olster |access-date=2013-08-24 |url-status=unfit |archive-url=https://web.archive.org/web/20130902041822/http://abcnews.go.com/Politics/wireStory/sanctions-biting-iran-budging-20044000?singlePage=true |archive-date=September 2, 2013}}</ref>]]
[[File:Inflation-Iran.png|thumb|right|Between 2002 and 2006, the rate of inflation has been fluctuating around 14%.<ref name="IndexMundi">{{cite web|url=http://www.indexmundi.com/iran/inflation_rate_(consumer_prices).html|title=Iran Inflation Rate|publisher=index Mondi}}</ref>]]

In 1932, the rial was pegged to [[pound sterling|sterling]] at a rate of £1 = Rls 59.75. The exchange rate was £1 = Rls 80.25 in 1936, £1 = Rls 64.350 in 1939, £1 = Rls 68.8 in 1940, £1 = Rls 141 in 1941 and £1 = Rls 129 in 1942. In 1945, the rial was pegged to the U.S. dollar at USD 1 = Rls 32.25. The rate was US$1 = Rls 75.75 in 1957. Iran did not follow the dollar's currency [[devaluation]] in 1973, leading to a new peg of USD 1 = Rls 68.725. The dollar peg was dropped in 1975.{{citation needed|date=October 2015}}

In 1979, Rls 70 equalled USD 1. The value of the rial declined precipitously after the [[Iranian Revolution|Islamic Revolution]] because of [[capital flight]] from the country.<ref>{{cite web |url=http://www.washingtoninstitute.org/templateC04.php?CID=23 |title=Publications |publisher=Washington Institute |date=2008-09-26 |access-date=2012-02-07 |archive-date=June 17, 2009 |archive-url=https://web.archive.org/web/20090617210433/http://www.washingtoninstitute.org/templateC04.php?CID=23 |url-status=dead }}</ref><ref>{{cite web| author= [[Nader Habibi]] | date=2003-07-09 | url= http://www.farsinet.com/toman/exchange_rate_freeze.html | title= Iran's Exchange Rate Freeze: Is it Appropriate? Is it sustainable? | access-date=2007-06-13}}</ref> Studies estimate that the flight of capital from Iran shortly before and after the revolution in the range of $30 to $40 billion.<ref>{{cite web |url=http://www.migrationinformation.org/Profiles/display.cfm?ID=424 |title=Iran: A Vast Diaspora Abroad and Millions of Refugees at Home |publisher=Migration Information |access-date=2012-02-07}}</ref> Whereas on March 15, 1978, Rls&nbsp;71.46 equalled $1, in July 1999, $1 equalled Rls&nbsp;9,430.

Injecting sudden [[foreign exchange reserves|foreign exchange]] revenues in the economic system forms the phenomenon of "[[Dutch disease]]" in a country. There are two main consequences for a country with Dutch disease: loss of price competitiveness in its production goods, and hence the exports of those goods; and an increase in imports. Both cases are clearly visible in Iran.<ref>{{cite web |url=http://www.payvand.com/news/08/oct/1285.html |title=A Review and Analysis of Iran's Current Economic Status |publisher=Payvand.com |access-date=2012-02-07 |archive-date=November 3, 2008 |archive-url=https://web.archive.org/web/20081103143949/http://www.payvand.com/news/08/oct/1285.html |url-status=dead }}</ref>

Although described as an (interbank) "market rate", the value of the Iranian rial is tightly controlled by the central bank. The state ownership of [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil export earnings]] and its [[Oil reserves in Iran|large reserves]], supervision of [[letters of credit]], together with [[Current account (balance of payments)|current]] – and [[capital account|capital outflow account]] – outflows allows management of [[supply and demand|demand]]. The central bank has allowed the rial to weaken in nominal terms (4.6% on average in 2009) in order to support the competitiveness of non-oil exports.

There is an active [[black market]] in foreign exchange, but the development of the [[Tehran Stock Exchange#TSE rate|TSE rate]] and the ready availability of foreign exchange during 2000 narrowed the differential to as little as IR100 in mid-2000.<ref name="nationsencyclopedia.com">{{cite web|url=http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Iran-MONEY.html |title=Iran Money, Information about Money in Iran |publisher=Nations Encyclopedia |date=2001-01-01 |access-date=2012-02-07}}</ref> However, the spread increased again in September 2010 because channels for transferring foreign currency to and from Iran being blocked because of [[sanctions against Iran|international sanctions]].<ref>{{cite web |url=http://www.payvand.com/news/10/oct/1002.html |title=Iran's Foreign Currency Market In Turmoil |publisher=Payvand.com |access-date=2012-02-07 |archive-date=January 18, 2012 |archive-url=https://web.archive.org/web/20120118175118/http://www.payvand.com/news/10/oct/1002.html |url-status=dead }}</ref><ref>{{cite web |url=http://www.payvand.com/news/10/oct/1099.html |title=Currency traders under investigation in Iran |publisher=Payvand.com |access-date=2012-02-07 |archive-date=January 18, 2012 |archive-url=https://web.archive.org/web/20120118212340/http://www.payvand.com/news/10/oct/1099.html |url-status=dead }}</ref>

[[Monetary policy]] is facilitated by a network of 50 Iranian-run [[forex]] dealers in Iran, the rest of the Middle East and Europe. According to the ''[[Wall Street Journal]]'' and dealers, the [[Iranian government]] was selling US$250&nbsp;million daily to keep the rial [[exchange rate]] against the US dollar between Rls&nbsp;9,700 and Rls&nbsp;9,900 in 2009.<ref name="WSJ">{{Cite journal|title=Tehran Struggles to Defend Currency|journal=Wall Street Journal|date=2009-08-06|first=Roshanak|last=Taghavi|author2=Margaret Coker|pages=A7}}</ref> At times (before the devaluation of the rial in 2013) the authorities weakened the national currency intentionally by withholding the supply of [[hard currency]] to earn more rial-denominated income, usually at times when the government faced a [[Government of Iran#Public finance and fiscal policy|budget deficit]].<ref name="TP2"/>

The widening of the gap between official and unofficial exchange rates stood at over 20% in November 2011. This shows the correlation between the value of foreign currencies and the domestic inflationary environment.<ref name="turquoisepartners">{{cite web|url=http://www.turquoisepartners.com/iraninvestment/IIM-Nov11.pdf|date=November 29, 2011|title=Iran Investment Monthly Nov 2011.pdf|access-date=2015-09-06|archive-date=December 21, 2011|archive-url=https://web.archive.org/web/20111221110531/http://www.turquoisepartners.com/iraninvestment/IIM-Nov11.pdf|url-status=dead}}</ref>

The unofficial rial to US dollar rate underwent severe fluctuations in January 2012 (the rial losing 50% of its value in a few days, following new [[sanctions against Iran|international sanctions against the CBI]]), eventually settling at Rls&nbsp;17,000 at the end of the period. Besides all the bad effects on the economy in general, this had the effect of boosting the competitiveness of Iran's domestic industries abroad. Following President [[Mahmoud Ahmadinejad]]'s decision to liberalize the mechanism by which [[banking in Iran#Rates|bank interest rates]] are set (granting banks the authority to raise interest rates to 21%),<ref name=TP2/> CBI announced that it would be fixing the official rate of the rial against the dollar at Rls&nbsp;12,260 from January 28, 2012, and seek to meet all demand for foreign currency through banks.<ref name=TP2>{{cite web |url=http://www.turquoisepartners.com/iraninvestment/IIM-Jan12.pdf |date=January 29, 2012 |title=Iran Investment Monthly Jan 2012.pdf |access-date=2015-09-06 |archive-date=January 14, 2016 |archive-url=https://web.archive.org/web/20160114102255/http://www.turquoisepartners.com/iraninvestment/IIM-Jan12.pdf |url-status=dead }}</ref><ref>{{cite news| url=https://www.wsj.com/articles/SB10001424052970203735304577164640064408710 | work=The Wall Street Journal | first1=Bill | last1=Spindle | first2=Benoît | last2=Faucon | first3=Farnaz | last3=Fassihi | title=Iran Cracks Down on Dollar Trades | date=2012-01-17}}</ref><ref>{{cite news| url=https://www.nytimes.com/2011/12/21/world/middleeast/currency-plunge-roils-iran-as-further-sanctions-loom.html?_r=1 | work=The New York Times | first=Rick | last=Gladstone | title=Currency Plunge Roils Iran as Further Sanctions Loom | date=2011-12-20}}</ref><ref>{{cite web|url=http://www.businessweek.com/news/2012-01-06/iran-regime-profiting-from-currency-decline-u-s-treasury-says.html |title=Bloomberg Business |work=Bloomberg.com |access-date=2016-05-23 |url-status=unfit |archive-url=https://web.archive.org/web/20120109080142/http://www.businessweek.com/news/2012-01-06/iran-regime-profiting-from-currency-decline-u-s-treasury-says.html |archive-date=January 9, 2012 }}</ref><ref>{{cite web|url=http://www.payvand.com/news/12/jan/1024.html|title=The Central Bank of Iran and the Devaluing Rial|website=Business Week|access-date=2015-09-03|archive-date=September 24, 2015|archive-url=https://web.archive.org/web/20150924115925/http://www.payvand.com/news/12/jan/1024.html|url-status=dead}}</ref>

As of June 2020, the Iranian rial has fallen almost five-fold since the beginning of 2018 and contributing to the record [[inflation]]. Reason cited by analysts is the fact that [[Central Bank of Iran#Money supply|the government has been printing money in excess]] of the economic growth.<ref>{{cite web |url=https://en.radiofarda.com/a/iran-s-money-supply-skyrockets-parallel-to-inflation/30671910.html |title = Iran's Money Supply Skyrockets Parallel To Inflation| date=June 15, 2020 }}</ref>

The value of Rial has dropped by 29% since the nationwide protests that began on September 16, 2022, following the [[death of Mahsa Amini]], a 22 year old Kurdish-Iranian woman in police custody.<ref>{{Cite web |agency=Reuters |date=2023-01-22 |title=Iranian currency falls to record low amid isolation and sanctions |url=https://www.dawn.com/news/1732970 |access-date=2023-01-26 |website=DAWN.COM |language=en}}</ref>

[[File:US dollar vs Iranian Rial.png|400px|thumb|US dollar – Iranian rial official exchange rate graph (2000-2017){{citation needed|date=October 2020}}]]

{| class="wikitable"
|+Official vs. free [[exchange rates]] ''(rials per US dollar)''<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/iran/ |title=The World Factbook |publisher=CIA |access-date=2012-02-07 }}</ref><ref>{{Cite journal| title = Annual Review 2013/14| publisher = [[Central Bank of Iran]]| date = February 2015| url = http://www.cbi.ir/Newestdoc.aspx?id=0&dn=AnnualReview_en&dl=1| format = PDF| access-date = September 7, 2015| archive-date = May 2, 2019| archive-url = https://web.archive.org/web/20190502004721/https://www.cbi.ir/Newestdoc.aspx?id=0&dn=AnnualReview_en&dl=1| url-status = dead}}</ref>
|-
! Year !! Official rate !! Transfer/business/trade/parallel/free rate
|-
| 2003 || 8,193 || 8,193
|-
| 2004 || 8,885 || 8,885
|-
| 2005 || 8,964 || 8,964
|-
| 2006 || 9,227 || 9,227
|-
| 2007 || 9,408 || 9,408
|-
| 2008 || 9,143 || 9,143
|-
| 2009 || 9,900 || 9,900
|-
| 2010 || 10,308 || 10,308
|-
| 2011 || 10,800 ||13,568
|-
| 2012 || 12,175.5 || 26,059
|-
| 2013 ||18,517.2 || 31,839
|-
| 2014 ||25,780.2 || 32,385
|-
| 2017 ||33,127 || 59,500
|-
| 2018 ||42,000 || 135,000
|-
| 2019 ||42,000 || 129,500
|-
| 2020 ||42,000 || 253,940
|-
| 2021 ||42,000 || 273,080
|-
|2022
|41,850
|427,000
|-
|}

''Pre-unification, rials per US dollar:''
*''Market'': 8,200 (2002); 8,050 (2001); 8,350 (2000)<ref>{{cite web|url=http://www.farsinet.com/toman/exchange.html |title=Iranian Currency Exchange Rate - Money Exchange in US, Europe & Canada - Iranian Currency Exchange Rate History, Iran Currency System, Iranian Currency History |publisher=Farsinet.com |access-date=2012-02-07}}</ref>
*''Preferred'': 6,906 (2002); 1,753 (2001); 1,764 (2000)<ref>[[CIA factbook]]</ref>

=== Current market exchange rates ===

{|
|-
| {{Exchange rate|IRR|PKR|EUR|JPY|USD}}
|}

===Exchange rate system===
Until 2002, Iran's exchange rate system was based on a multi-layered system, where state and para-state enterprises benefited from the "preferred or official rate" (Rls&nbsp;1,750 for US$1) while the private sector paid the "market rate" (Rls&nbsp;8,000 for US$1), hence creating an unequal competition environment. The "official rate" applied to oil and gas export receipts, imports of essential goods and services, and repayment of external debt. The "export rate", fixed at Rls&nbsp;3,000 per dollar since May 1995, applied to all other trade transactions, but mainly to capital goods imports of public enterprises.<ref name="nationsencyclopedia.com"/>

In 1998, in order to ease pressure on exporters, the central bank introduced a currency certificate system allowing exporters to trade certificates for hard currency on the [[Tehran Stock Exchange]], thus creating a floating value for the rial known as the "TSE rate" or "market rate". This method finally replaced the fixed "export rate" (Rls&nbsp;3,000:US$1) in March 2000, and has since held steady at some Rls&nbsp;8,500:US$1.

In March 2002, the multi-tiered system was replaced by a unified, market-driven exchange rate. In 2002 the "official rate" a/k/a "preferred rate" (Rls&nbsp;1,752:US$1) was abolished, and the TSE rate became the basis for the new unified foreign-exchange regime.<ref>{{cite web |url=http://www.austrade.gov.au/australia/layout/0,,0_S2-1_CLNTXID0019-2_-3_PWB1151550-4_doingbusiness-5_-6_-7_,00.html |title=Iran Profile |publisher=Australian Trade Commission (Austrade) |date=2006-10-04 |access-date=2012-02-07 |url-status=dead |archive-url=https://web.archive.org/web/20061004192232/http://www.austrade.gov.au/australia/layout/0%2C%2C0_S2-1_CLNTXID0019-2_-3_PWB1151550-4_doingbusiness-5_-6_-7_%2C00.html |archive-date=October 4, 2006}}</ref> Iran's Central Bank channels more than 90 per cent of hard currency into the local market (2012).<ref name="TP2"/>

====Forex bourse====
{{See also|Foreign exchange market}}
In a move interpreted as aiming at unifying currency exchange rates, on September 24, 2012, the government launched a foreign exchange centre, that would provide importers of some basic goods with foreign exchanges, at a rate about 2% cheaper than the open market rate on a given day.<ref name=Reuters>{{cite news|url=http://in.reuters.com/article/iran-currency-idINL5E8KPAD520120925 |archive-url=https://web.archive.org/web/20160305212335/http://in.reuters.com/article/iran-currency-idINL5E8KPAD520120925 |url-status=dead |archive-date=March 5, 2016 |title=Iran rial hits record low despite new effort to stabilize it |work=Reuters |date=2012-09-25 |access-date=2012-10-01}}</ref><ref name="turquoisepartners2">{{cite web|url=http://www.turquoisepartners.com/iraninvestment/IIM-Oct12.pdf|date=November 6, 2012|title=Iran Investment Monthly October 2012.pdf|access-date=2015-09-06|archive-date=March 3, 2016|archive-url=https://web.archive.org/web/20160303232559/http://www.turquoisepartners.com/iraninvestment/IIM-Oct12.pdf|url-status=dead}}</ref> This project was cancelled following the strong depreciation of the rial between 2012 and 2013 but was put on the agenda again in 2015 for use in the reunification of forex rates (planned for 2017) and the introduction of [[derivative (finance)|currency derivative]]s. through the [[Iran Mercantile Exchange#New products|Iran Mercantile Exchange]].<ref>{{cite web|url=http://financialtribune.com/articles/economy-business-and-markets/20834/plan-create-currency-bourse-raises-controversy|title=Plan to Create Currency Bourse Raises Controversy|author=Mohammad Affianian|work=Financial Tribune Daily|date=July 9, 2015 |access-date=2015-09-03}}</ref>

In addition to [[Banking in Iran|banks]], ''exchange shops'' are also available for limited transactions. Exchange shops must operate under the licenses issued by [[Central Bank of Iran]]. Foreign currencies can be bought or sold at these exchange shops.

====Exchange restriction====
Exchange restriction arises from limitations on the transferability of rial profits
from certain investments under the [[Foreign Direct Investment in Iran#FIPPA|Foreign Investment Promotion and Protection Act]] and from limitations on other investment-related current international payments under this act.<ref name="imf">{{cite web|url=http://www.imf.org/external/pubs/ft/scr/2010/cr1074.pdf|date=January 11, 2010|title=Islamic Republic of Iran: 2009 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Iran; IMF Country Report 10/74|publisher= International Monetary|access-date=2015-09-06}}</ref>

====Multiple currency practices====
In 2010, the cases of multiple currency practices arose from the following:<ref name="imf" />
#Budget subsidies for foreign exchange purchases in connection with payments of certain [[letters of credit]] opened prior to March 21, 2002, under the previous multiple exchange rate system (see above);
#Obligations of entities that had received allocations of foreign exchange at subsidized "allocated rates" under the previous multiple exchange rate system to surrender unused allocations to the [[Central Bank of Iran]] at the allocation rate.

Until 2012, the dollar had different exchange rates, depending on where you are buying your currency<ref>from:http://theiranianrial.net/irans-gold-and-currency-markets/</ref>

*Official exchange rate
*[[Free trade zones in Iran|Free trade zone]] exchange rate
*Referential exchange rate
*Black market exchange rate

In 2012, [[Bank Markazi]] classified a long list of goods into categories with priorities 1 through 10, leaving it to the parallel market to take of all other needs. Priorities 1 and 2 are food and medicine, receiving foreign exchange at the official rate of Rls&nbsp;12,260 per dollar, followed by other categories with lower priorities, which are mostly intermediate goods used in industrial production.<ref>{{cite web|url=http://www.businessinsider.com/actually-there-is-no-hyperinflation-in-iran-2012-10#ixzz2dhqHAf5B|title=Actually, There Is No Hyperinflation In Iran |date=October 6, 2012|work=Business Insider|access-date=2015-09-03}}</ref>

====Redenomination====
Because of the current low value of rial, and that people rarely use the term, [[redenomination]] or change of currency has been proposed a number of times since the late 1980s. The issue has re-emerged and been under discussion, as a result of issuance of larger banknotes in 2003. Opponents of redenomination are wary of more inflation resulting from psychological effects, and increase in [[velocity of money]] leading to more instabilities in the [[economy of Iran]].<ref name="high">{{cite web |url=http://www.magiran.com/npview.asp?ID=1364859 |script-title=fa:روزنامه سرمايه85/12/14: مدير كل نشر اسكناس بانك مركزي : رشد نقدينگي اسكناس درشت تر مي طلبد  |publisher=magiran.com |language=fa |date=2007-03-05 |access-date=2012-02-07}}</ref><ref>{{Cite journal |title = Currency Reform and Redenomination of Iranian Rial |url = http://jmbr.mbri.ac.ir/browse.php?a_id=87&sid=1&slc_lang=en|journal= Journal of Monetary & Banking Research | date=June 10, 2011 | volume=3 | issue=7 | pages=137–168 |access-date = 2015-09-07| last1=Mahdavian | first1=Mohammad Hadi }}</ref>

On April 12, 2007, the Economics Commission of the [[Majles|Parliament]] announced initiation of a statute in draft to change the currency, claiming redenominations had helped reduce inflation elsewhere, such as [[Turkish new lira|in Turkey]].<ref name="donya-e-eqtesad">{{cite web |url=http://www.donya-e-eqtesad.com/PDF/1210/1210-1.pdf |title=کوتاه و خواندنی |publisher=donya-e-eqtesad.com |access-date=2015-09-06 }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref name="donya-e-eqtesad2">{{cite web |url=http://www.donya-e-eqtesad.com/PDF/1210/1210-13-Mas.pdf |title=کوتاه و خواندنی |publisher=donya-e-eqtesad.com |access-date=2015-09-06 }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>  In 2008, an official at the Central Bank of Iran said the bank plans to slash four zeros off the rial and rename it the [[Iranian toman|toman]].<ref name="Toman">[http://iranianrial.globalcurrencyreset.net/news/reports-toman-irans-new-currency/ "Reports: Toman Iran's new currency."] ''Press TV''. September 4, 2008. Retrieved 2009-08-05.</ref>  The bank printed two new [[traveller's cheque]]s, which function quite similar to a banknote, with values of Rls&nbsp;500,000 and Rls&nbsp;1,000,000. However, they have the figures "50" (should read 50 thousand toman) and "100" (should read 100 thousand toman) written on their top right hand corners, respectively, which is seen as the first step toward a new currency.<ref name="Toman"/>

In 2010, President [[Mahmoud Ahmadinejad]] announced that Iran would remove three zeros (not the four that had been proposed) from its national currency as part of the [[Iranian Economic Reform Plan|economic reform plan]].{{citation needed|date=July 2021}}

In April 2011, it was reported that the [[Central Bank of the Islamic Republic of Iran|Central Bank]] is working on a six-month redenomination project to cut four zeros from the national currency and replace old bank notes with new ones, similar to the [[revaluation of the Turkish lira]] in 2005.<ref>{{cite web|url=http://www.tehrantimes.com/index_View.asp?code=237870 |title=Iran to slash three zeros off currency |website=Tehran Times |date=April 3, 2011 |access-date=2012-02-07}}</ref><ref>{{cite web|url=http://news.kodoom.com/en/iran-politics/iran-plans-to-slash-four-zeros/story/1715867/ |title=Iran Plans to Slash Four Zeros From Currency, Donya Reports|publisher=kodoom |date=2011-04-05 |access-date=2012-02-07}}</ref><ref>{{cite news|url=https://www.bloomberg.com/news/2011-04-06/iran-plans-to-slash-four-zeros-from-currency-donya-reports.html |work=Bloomberg |first=Ladane |last=Nasseri |title=Iran Plans to Slash Four Zeros From Currency, Donya Reports |date=2011-04-06 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20110410055301/http://www.bloomberg.com/news/2011-04-06/iran-plans-to-slash-four-zeros-from-currency-donya-reports.html |archive-date=2011-04-10 }}</ref><ref>{{cite web |title=حذف 4 صفر از پول کشور كليد خورد - Tabnak.IR &#124; تابناك |language=fa |publisher=Tabnak.IR |url= http://www.tabnak.ir/fa/news/156580/%D8%AD%D8%B0%D9%81-4-%D8%B5%D9%81%D8%B1-%D8%A7%D8%B2-%D9%BE%D9%88%D9%84-%DA%A9%D8%B4%D9%88%D8%B1-%D9%83%D9%84%D9%8A%D8%AF-%D8%AE%D9%88%D8%B1%D8%AF |access-date=2012-02-07}}</ref>

A website to poll the public on the redenomination plan was launched July 21, 2011; the public was allowed to vote on how many zeroes to cut and what the new currency's name should be. Preliminary results indicate that four zeroes would be cut (in line with the government's recommendation) and that the name will be changed to Parsi.<ref>{{cite web|author=Catherine Snowdon |url=http://www.risk.net/risk-magazine/news/2095678/iranian-public-votes-currency-reform |title=Iranian public votes on currency reform |date=July 21, 2011 |publisher=Risk.net |access-date=2012-02-07}}</ref>

In 2016, [[Government of Iran|the government]] announced its plan to end the official status of the rial, replacing it with the commonly used unit the ''[[Iranian Toman|toman]]'' (which represents 10 rials).{{citation needed|date=July 2021}}

In July 2019, the Iranian government approved a bill to change the national currency from the rial to the toman with one toman equalling Rls&nbsp;10,000, a process which will reportedly cost $160 million.{{citation needed|date=July 2021}} This proposal was approved by the Iranian parliament in May 2020. The changeover is likely to be phased over a period of up to two years.<ref>{{cite web|url=https://en.radiofarda.com/a/iran-parliament-approves-bill-to-change-currency-slash-four-zeros-/30592219.html|access-date = 2023-10-01|title=Iran Parliament Approves Bill To Change Currency, Slash Four Zeros| date=May 4, 2020 |publisher=en.radiofarda.com}}</ref>

===CIA market manipulation===
It was reported in 2007 that a U.S. [[Central Intelligence Agency]] (CIA) plan had been authorized to manipulate the Iranian rial in order to destabilize the country, though the details and outcome of said plan are not known.<ref>{{cite magazine|last=Hosenball |first=Mark |url=http://www.msnbc.msn.com/id/18881815/site/newsweek/ |title=Tehran's Secret 'Department 9000' |magazine=Newsweek |date=June 4, 2007 |access-date=2012-02-07 |url-status=dead |archive-url=https://web.archive.org/web/20070909142455/http://www.msnbc.msn.com/id/18881815/site/newsweek/ |archive-date=September 9, 2007}}</ref> Iran reported arresting 20 "Forex manipulators" in 2012.<ref>{{Cite web|title = Iran arrests a forex market manipulator|url = http://www.payvand.com/news/12/oct/1190.html|website = www.payvand.com|access-date = 2015-09-07|archive-date = March 4, 2016|archive-url = https://web.archive.org/web/20160304205908/http://www.payvand.com/news/12/oct/1190.html|url-status = dead}}</ref>

In 2013, talking about the [[sanctions against Iran]], US Senator [[Carl Levin]] said that "Iranian Rial banknotes are printed in Europe".<ref>{{cite AV media|url=https://www.youtube.com/watch?v=XAh9gNXEPbE|title=Iran's Currency (the Rial) is Printed in Europe|date=February 24, 2013|via=YouTube|access-date=2015-09-03}}{{cbignore}}{{Dead YouTube link|date=February 2022}}</ref>

==Coins==
{{See also|Bahar Azadi Coin|l1=Iranian gold coin}}

===Classical rial===
[[File:Achaemenid coin daric 420BC front.jpg|thumb|A golden [[daric]] coin minted during the time of the ancient [[Persian Empire]]]]
During the late 18th and early 19th century, [[silver coin]]s were issued in denominations of {{frac|1|8}}, {{frac|1|4}}, {{frac|1|2}} and 1 rial.

===Modern rial===
The first coins of the second rial currency, introduced in 1932, were in denominations of 1, 2, 5, 10 and 25 dinars, Rl&nbsp;{{frac|1|2}}, Rl&nbsp;1, Rls&nbsp;2 and Rls&nbsp;5, with the Rls&nbsp;{{frac|1|2}} to Rls&nbsp;5 coins minted in silver. Gold coins denominated in ''pahlavi'' were also issued, initially valued at Rls&nbsp;100. In 1944, the silver coinage was reduced in size, with the smallest silver coins being the Rls&nbsp;1 pieces. Minting of all denominations below 25 dinars ended in this year. In 1945, silver Rls&nbsp;10 coins were introduced. In 1953, silver coins ceased to be minted, with the smallest denomination now 50 dinars. Rls&nbsp;20 coins were introduced in 1972.

After the [[Islamic Revolution]], the coinage designs were changed to remove [[the Shah]]'s effigy but the sizes and compositions were not immediately changed. 50 dinar coins were only minted in 1979 and Rls&nbsp;50 coins were introduced in 1980. In 1992, a new coinage was introduced with smaller Rls&nbsp;1, Rls&nbsp;5, Rls&nbsp;10 and Rls&nbsp;50 coins and new Rls&nbsp;100 pieces. Rls&nbsp;250 coins were introduced the following year. In 2004, the sizes of the Rls&nbsp;50, Rls&nbsp;100 and Rls&nbsp;250 coins were reduced and Rls&nbsp;500 coins were introduced. New, smaller types of Rls&nbsp;250 and Rls&nbsp;500 were introduced in 2009, along with the new denomination of Rls&nbsp;1,000. Rls&nbsp;2,000 and Rls&nbsp;5,000 rial coins in 2010.

===Digital Rial===
[[File:DigitalRial.jpg|thumb|Iran's Digital Rial]]
Digital Rial or Iran's National Currency is a type of currency that according to the announcement of the [[Central Bank of Iran|Central Bank]] of the Islamic Republic of Iran, Its release is based on the Modern Rial.<ref name="dnbinfo">{{cite web|title=The Central Bank of Iran delves into Digital Rial|url=https://www.cbi.ir/showitem/21652.aspx |website=cbi.ir|year=2021|format=ASPX}}</ref>

====Current series====
{{explain|date=November 2023|reason=explain the table background colours}}
{|class="wikitable" style="font-size: 90%"
|-
!colspan=13|Iranian rial coins currently in circulation
|-
!colspan=2| Image !!rowspan=2| Value !!colspan=4| Technical parameters !!colspan=3| Description !!colspan=3| Date of
|-
! Obverse !! Reverse !! Diameter !! Thickness !! Mass !! Composition !! Edge !! Obverse !! Reverse !! first minting
|- {{Coin-copper-color}}
|
| |
| Rls&nbsp;50
| 20.2&nbsp;mm
| 1.33&nbsp;mm
| 3.5&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[aluminium]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Fatima Masumeh Shrine]]
| 2004
|- {{Coin-copper-color}}
|
|
| Rls&nbsp;100
| 22.95&nbsp;mm
| 1.36&nbsp;mm
| 4.6&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[aluminium]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Imam Reza Shrine]]
| 2004
|- {{Coin-copper-color}}
|
|
| Rls&nbsp;250
| 18.8&nbsp;mm
| 1.56&nbsp;mm
| 2.8&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[aluminium]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Feyziyeh School]]
| 2009
|- {{Coin-copper-color}}
|
|
| Rls&nbsp;500
| 20.8&nbsp;mm
| 1.66&nbsp;mm
| 3.9&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[aluminium]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Saadi (poet)|Saadi's]] Mausoleum in Shiraz
| 2009
|- {{Coin-copper-color}}
|
|
| Rls&nbsp;1,000
| 23.7&nbsp;mm
| 1.9&nbsp;mm
| 5.8&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[aluminium]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Khaju Bridge]]
| 2009
|- {{Coin-silver-color}}
|
|
| Rls&nbsp;2,000
| 26.3&nbsp;mm
| 1.76&nbsp;mm
| 6.8&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[zinc]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| [[Shrine of Imam Reza]]
| 2010
|- {{Coin-silver-color}}
|
|
| Rls&nbsp;5,000
| 29.3&nbsp;mm
| 2&nbsp;mm
| 10.1&nbsp;g
| [[copper]]<br/>[[nickel]]<br/>[[zinc]]
| Reeded
| Value, motif, year of minting, "Islamic Republic of Iran"
| Text, Fiftieth Anniversary of Foundation of the Central Bank of the Islamic Republic of Iran
| 2010
|-
|colspan=13|{{Standard coin table notice|standard_scale=Y|BrE=Y}}
|}

==<span id="Banknotes"></span>Banknotes==
In 1932, notes were issued by the "[[Bank Melli Iran]]" in denominations of Rls&nbsp;5, Rls&nbsp;10, Rls&nbsp;20, Rls&nbsp;50, Rls&nbsp;100 and Rls&nbsp;500. Rls&nbsp;1,000 notes were introduced in 1935, followed by Rls&nbsp;200 notes in 1951 and Rls&nbsp;5,000 and Rls&nbsp;10,000 in 1952. Rls&nbsp;5 notes were last issued in the 1940s, with Rls&nbsp;10 notes disappearing in the 1960s. In 1961, the Central Bank of Iran took over the issuance of paper money.

In 1979, after the Islamic revolution, Iranian banknotes featuring the Shah's face were counter-stamped with intricate designs to cover the Shah's face. The first regular issues of the Islamic Republic were in denominations of Rls&nbsp;100, Rls&nbsp;200, Rls&nbsp;500, Rls&nbsp;1,000, Rls&nbsp;5,000 and Rls&nbsp;10,000. Rls&nbsp;2,000 notes were introduced in 1986.

They are issued by the [[Central Bank of the Islamic Republic of Iran|Central Bank of Iran]], each bearing the signature of the [[Central Bank of the Islamic Republic of Iran#Governors of the Central Bank of Iran|President of the Iranian Central Bank]]. The Rls&nbsp;100, Rls&nbsp;200 and Rls&nbsp;500 banknotes are becoming increasingly uncommon; shopkeepers habitually give out small packages of gum in lieu of the last Rls&nbsp;500 of change. For day to day means people will carry wads of Rls&nbsp;100,000 notes.

=== Qajar Series (1850–1925) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
| [[File:1-TOMAN-NASER.Jpg|114px]]
| [[File:Naser Aldin Shah 1 Toman specimen banknote reverse.jpg|114px]]
| 1 toman
| 130 × 67
| style="text-align:center; background:silver;"|
| Silver
| [[Nasser al-Din Shah Qajar]]
| Value, "Imperial State of Iran"
|-
| [[File:5t-type1-obv-naser.jpg|114px]]
| [[File:5t-type1-rev-naser.jpg|114px]]
| 5 tomans
| 136 × 69
| style="text-align:center; background:tan;"|
| Tan
| Nasser al-Din Shah Qajar
| Value, "Imperial State of Iran"
|-
| [[File:IranP7s-50tomans-ND-donatedjs f.jpg|114px]]
| [[File:50t-type1-rev-naser.jpg|114px]]
| 50 tomans
| 142 × 71
| style="text-align:center; background:gray;"|
| Gray
| Nasser al-Din Shah Qajar
| Value, [[Lion and Sun]]
|}

=== Reza Shah Series (1925–1941) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
| [[File:5r-type1-obv-reza.jpg|114px]]
| [[File:5r-type1-rev-reza.jpg|114px]]
| Rls&nbsp;5
|130 × 67
| style="text-align:center; background:green;"|
| Green
| [[Reza Shah Pahlavi]]
| Value, Lion and Sun with crown
|-
| [[File:10r-obv-1311-reza.jpg|114px]]
| [[File:10r-rev-1311-reza.jpg|114px]]
| Rls&nbsp;10
|136 × 69
| style="text-align:center; background:brown;"|
| Brown
| Reza Shah Pahlavi
| Value, Lion and Sun with crown
|-
| [[File:20rials-reza.jpg|114px]]
| [[File:Reza Shah 20 Rials banknote 1st series reverse.jpg|114px]]
| Rls&nbsp;20
|142 × 71
| style="text-align:center; background:purple;"|
| Purple
| Reza Shah Pahlavi
| Value, Lion and Sun with crown
|-
| [[File:پانصد ریال - سری ششم رضا شاه - کد ۵۷ (رو).png|114px]]
| [[File:500RialsNoteIran 22047.jpg|114px]]
| Rls&nbsp;500
|142 × 71
| style="text-align:center; background:navy;"|
| Navy
| Reza Shah Pahlavi
| [[Tomb of Cyrus]]
|-
| [[File:1000rial rezapahlavi.JPG|114px]]
| [[File:یک هزار ریال - سری ششم رضا شاه - کد ۵۸ (پشت).png|114px]]
| Rls&nbsp;1,000
|148 × 73
| style="text-align:center; background:silver;"|
| Silver
| Reza Shah Pahlavi
| [[Mount Damavand]]
|}

=== Mohammad Reza Shah Series (1942–1978) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
| [[File:10-RIAL-OBV-KE.jpg|114px]]
| [[File:10-RIAL-REV-KE.jpg|114px]]
| Rls&nbsp;10
|130 × 67
| style="text-align:center; background:silver;"|
| Silver
| [[Mohammad Reza Shah Pahlavi]]
| Imperial seal of [[Darius the Great]]
|-
| [[File:10-RIAL-OBV-TAKHT-KE.jpg|114px]]
| [[File:10-RIAL-REV-TAKHT-KE.jpg|114px]]
| Rls&nbsp;10
|130 × 67
| style="text-align:center; background:silver;"|
| Silver
| Mohammad Reza Shah Pahlavi
| [[Avicenna Mausoleum]]
|-
| [[File:10-RIAL-OBV-TAMAMROKH-KE.jpg|114px]]
| [[File:10-RIAL-REV-TAMAMROKH-KE.jpg|114px]]
| Rls&nbsp;10
|130 × 67
| style="text-align:center; background:silver;"|
| Silver
| Mohammad Reza Shah Pahlavi
| [[Amir Kabir Dam]]
|-
| [[File:Banknote of shah - 20 rials (front).jpg|114px]]
| [[File:Banknote of shah - 20 rials (rear).jpg|114px]]
| Rls&nbsp;20
|130 × 67
| style="text-align:center; background:#E5AA70;"|
| Orange
| Mohammad Reza Shah Pahlavi
| Amir Kabir Dam
|-
| [[File:50 rials of second Pahlavi for 2500 years of Persian empire (front).jpg|114px]]
| [[File:50 rials of second Pahlavi for 2500 years of Persian empire (rear).jpg|114px]]
| Rls&nbsp;50
|130 × 67
| style="text-align:center; background:#74C365;"|
| Green
| Mohammad Reza Shah Pahlavi
| [[Mohammad Reza Shah Pahlavi]] in a public meeting
|-
| [[File:Banknote of shah - 50 rials (front).jpg|114px]]
| [[File:Banknote of shah - 50 rials (rear).jpg|114px]]
| Rls&nbsp;50
|130 × 67
| style="text-align:center; background:#74C365;"|
| Green
| Mohammad Reza Shah Pahlavi
| [[Pasargadae]]
|-
| [[File:100 rials of second Pahlavi for 2500 years of Persian empire (front).jpg|114px]]
| [[File:100 rials of second Pahlavi for 2500 years of Persian empire (rear).jpg|114px]]
| Rls&nbsp;100
|136 × 69
| style="text-align:center; background:#c08081;"|
| Purple
| Mohammad Reza Shah Pahlavi
| [[Social services]]
|-
| [[File:Banknote of second Pahlavi - 100 rials (front).jpg|114px]]
| [[File:Banknote of second Pahlavi - 100 rials (rear).jpg|114px]]
| Rls&nbsp;100
|136 × 69
| style="text-align:center; background:#c08081;"|
| Purple
| Mohammad Reza Shah Pahlavi
| [[Marble Palace (Tehran)|Marble Palace]]
|-
| [[File:Kingdom of Iran 100 Rials Banknote for 50th Anniversary of Pahlavi Dynasty (obverse).png|114px]]
| [[File:Kingdom of Iran 100 Rials Banknote for 50th Anniversary of Pahlavi Dynasty (reverse).png|114px]]
| Rls&nbsp;100
|136 × 69
| style="text-align:center; background:#c08081;"|
| Purple
| Reza Shah Pahlavi and Mohammad Reza Shah Pahlavi
| 50th Anniversary of the establishment of the [[Pahlavi dynasty]]
|-
| [[File:Banknote of second Pahlavi - 200 rials (front).jpg|114px]]
| [[File:Banknote of second Pahlavi - 200 rials (rear).jpg|114px]]
| Rls&nbsp;200
|136 × 69
| style="text-align:center; background:#465945;"|
| Blue-green
| Mohammad Reza Shah Pahlavi
| [[Azadi Tower|Shahyad Tower]]
|-
| [[File:Kingdom of Iran 500 Rials Banknote 1976 - Second Pahlavi King (obverse).png|114px]]
| [[File:Kingdom of Iran 500 Rials Banknote 1976 - Second Pahlavi King (reverse).png|114px]]
| Rls&nbsp;500
|142 × 71
| style="text-align:center; background:#CFB53B;"|
| Silver-yellow
| Mohammad Reza Shah Pahlavi
| [[Marlik|Marlik Cup]]
|-
| [[File:Banknote of second Pahlavi - 1000 rials (front).jpg|114px]]
| [[File:Banknote of second Pahlavi - 1000 rials (rear).jpg|114px]]
| Rls&nbsp;1,000
|148 × 73
| style="text-align:center; background:brown;"|
| Brown
| Mohammad Reza Shah Pahlavi
| [[Tomb of Hafez]]
|-
| [[File:Kingdom of Iran 5000 Rials Banknote 1977 - Second Pahlavi King (obverse).png|114px]]
| [[File:Kingdom of Iran 5000 Rials Banknote 1977 - Second Pahlavi King (reverse).png|114px]]
| Rls&nbsp;5,000
|154 × 75
| style="text-align:center; background:#a1caf1;"|
| Blue
| Mohammad Reza Shah Pahlavi
| [[Golestan Palace]]
|-
| [[File:Kingdom of Iran 10000 Rials Banknote 1978 - Second Pahlavi King (obverse).png|114px]]
| [[File:Kingdom of Iran 10000 Rials Banknote 1978 - Second Pahlavi King (reverse).png|114px]]
| Rls&nbsp;10,000
|160 × 77
| style="text-align:center; background:green;"|
| Green
| Mohammad Reza Shah Pahlavi
| [[Baharestan]]
|}

=== [[Imam Reza shrine|Imam Reza Shrine]] Series (1980–1982) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|[[File:صد ریال - سری پنجم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:صد ریال - سری پنجم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;100
|142×71
| style="text-align:center; background:purple;"|
| Purple
| [[Imam Reza shrine]]
| [[Chaharbagh School]]
|-
|[[File:دویست ریال - سری چهارم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:دویست ریال - سری چهارم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;200
|148×73
| style="text-align:center; background:green;"|
| Blue-green
| Imam Reza shrine
| [[Avicenna Mausoleum]]
|-
|[[File:پانصد ریال - سری چهارم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:پانصد ریال - سری چهارم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;500
|154×75
| style="text-align:center; background:brown;"|
| Brown
| Imam Reza shrine
| Winged horse
|-
|[[File:یک هزار ریال - سری چهارم جمهوری (رو).jpg|alt=|113x113px]]
|[[File:یک هزار ریال - سری چهارم جمهوری (پشت).jpg|alt=|113x113px]]
| Rls&nbsp;1,000
|160×77
| style="text-align:center; background:pink;"|
| Pink
| Imam Reza shrine
| [[Tomb of Hafez]]
|-
|[[File:پنج هزار ریال - سری چهارم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:پنج هزار ریال - سری چهارم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;5,000
|166×79
| style="text-align:center; background:#c08081;"|
| Purple
| Imam Reza shrine
| Tehran's [[Oil refinery]]
|-
|[[File:ده هزار ریال - سری چهارم جمهوری (رو).jpg|alt=|113x113px]]
|[[File:ده هزار ریال - سری چهارم جمهوری (پشت).jpg|alt=|113x113px]]
| Rls&nbsp;10,000
|172×81
| style="text-align:center; background:green;"|
| Green
| Imam Reza shrine
| [[Baharestan]]
|}

=== Revolution Series (1981–2005) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|[[File:صد ریال - سری ششم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:صد ریال - سری ششم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;100
|130×67
|  style="text-align:center; background:Purple;"|
| Purple
| [[Hassan Modarres]]
| Old building of [[Islamic Consultative Assembly]]
|-
|[[File:دویست ریال - سری ششم جمهوری (رو).jpg|alt=|113x113px]]
|[[File:دویست ریال - سری ششم جمهوری (پشت).jpg|alt=|113x113px]]
| Rls&nbsp;200
|136×69
| style="text-align:center; background:gray;"|
| Grey
| [[Jame Mosque of Yazd]]
| Agricultural Workers
|-
|[[File:پانصد ریال - سری ششم جمهوری (پشت).jpg|alt=|114x114px]]
|[[File:پانصد ریال - سری ششم جمهوری (رو).jpg|alt=|114x114px]]
| Rls&nbsp;500
|142×71
| style="text-align:center; background:#465945;"|
| Gray-green
| Friday prayers
| [[University of Tehran main entrance]]
|-
|[[File:هزار ریال - سری ششم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:1000 IRR 1982 Back.jpg|alt=|114x114px]]
| Rls&nbsp;1,000
|148×73
|  style="text-align:center; background:Brown;"|
| Brown
| [[Feyziyeh School]]
| [[Dome of the Rock]]
|-
|[[File:دو هزار ریال - سری ششم جمهوری - کد ۲۵۰ (رو).jpg|alt=|114x114px]]
|[[File:دو هزار ریال - سری ششم جمهوری - کد ۲۵۰ (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;2,000
|151×74
| style="text-align:center; background:purple;"|
| Purple
| [[Liberation of Khorramshahr]]
| [[Kaaba]]
|-
|[[File:پنج هزار ریال - سری پنجم جمهوری (رو).jpg|alt=|114x114px]]
|[[File:پنج هزار ریال - سری پنجم جمهوری (پشت).jpg|alt=|114x114px]]
| Rls&nbsp;5,000
|154×75
| style="text-align:center; background:red;"|
| Red
| Revolutionaries
| [[Fatima Masumeh Shrine]]
|-
|[[File:ده هزار ریال - سری پنجم جمهوری (رو).jpg|alt=|113x113px]]
|[[File:ده هزار ریال - سری پنجم جمهوری (پشت).jpg|alt=|113x113px]]
| Rls&nbsp;10,000
|160×77
| style="text-align:center; background:blue;"|
| Blue
| Revolutionaries
| [[Imam Reza shrine]]
|}

=== Ruhollah Khomeini Series (1992–2019) ===
{|class="wikitable" style="font-size: 90%"
|-
!colspan=8| Current series
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|<ref name="banknote">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0143ao.jpg|title=Image: IRN0143ao.jpg, (600 × 295 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote2">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0143ar.jpg|title=Image: IRN0143ar.jpg, (600 × 292 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;1,000
|148 × 73
|  style="text-align:center; background:Brown;"|
| Brown
| [[Ruhollah Khomeini]]
| [[Dome of the Rock]]
|-
|<ref name="banknote3">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0144o.jpg|title=Image: IRN0144o.jpg, (600 × 289 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote4">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0144r.jpg|title=Image: IRN0144r.jpg, (600 × 288 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;2,000
|151 × 74
| style="text-align:center; background:#f77fbe;"|
| Onion-skin purple
| Ruhollah Khomeini
| [[Kaaba]]
|-
|<ref name="banknote5">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0145ao.jpg|title=Image: IRN0145ao.jpg, (600 × 288 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote6">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0145ar.jpg|title=Image: IRN0145ar.jpg, (600 × 290 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;5,000
|154 × 75
| style="text-align:center; background:#c08081;"|
| Brown-olive
| Ruhollah Khomeini
| Flowers and birds
|-
|<ref name="banknote7">{{cite web|url=http://banknote.ws/COLLECTION/countries/ASI/IRN/IRN0150.htm|title=P-150|access-date=2015-09-03}}</ref>
|<ref name="banknote7"/>
| Rls&nbsp;5,000
|154 × 75
| style="text-align:center; background:#c08081;"|
| Brown-olive
| Ruhollah Khomeini
| [[Omid|Omid satellite]], [[Safir (rocket)|Safir 2 rocket]], globe with the marked territory of Iran
|-
|<ref name="banknoten.de">{{Cite web|title = banknoten.de - Iran 5.000 Rials (152_UNC) - BANKNOTEN|url = http://www.banknoten.de/product_info.php?info=p56202_iran---5-000--rials---152a-unc-.html|website = www.banknoten.de|access-date = 2015-09-07}}</ref>
|<ref name="banknoten.de"/>
| Rls&nbsp;5,000
|154 × 75
| style="text-align:center; background:#c08081;"|
| Brown-olive
| Ruhollah Khomeini
| Pottery from Zabol (Eastern Iran)
|-
| <ref name="banknote9">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0146bo.jpg|title=Image: IRN0146bo.jpg, (600 × 287 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote10">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0146ar.jpg|title=Image: IRN0146ar.jpg, (600 × 284 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;10,000
|160 × 77
| style="text-align:center; background:#00a693;"|
| Green
| Ruhollah Khomeini
| [[Mount Damavand]]
|-
|<ref name="banknote11">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0147ao.jpg|title=Image: IRN0147ao.jpg, (600 × 285 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote12">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0147ar.jpg|title=Image: IRN0147ar.jpg, (600 × 281 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;20,000
|163 × 78
| style="text-align:center; background:#a1caf1;"|
| Blue
| Ruhollah Khomeini
| [[Naqsh-e Jahan Square]]
|-
|<ref name="banknote13">{{cite web|url=http://banknote.ws/COLLECTION/countries/ASI/IRN/IRNW2009-020000.htm|title=P-NEW|access-date=2015-09-03|url-status=dead|archive-url=https://web.archive.org/web/20150514090716/http://banknote.ws/COLLECTION/countries/ASI/IRN/IRNW2009-020000.htm|archive-date=2015-05-14}}</ref>
|<ref name="banknote13"/>
| Rls&nbsp;20,000
|163 × 78
| style="text-align:center; background:#a1caf1;"|
| Blue
| Ruhollah Khomeini
| [[Qibli Mosque|Jami Al-Aqsa]]
|-
| <ref name="banknote13x">{{cite web|url=http://banknote.ws/COLLECTION/countries/ASI/IRN/IRNW2014-020000.htm|title=P-NEW|access-date=2015-09-03|url-status=dead|archive-url=https://web.archive.org/web/20151221131915/http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRNW2014-020000.htm|archive-date=2015-12-21}}</ref>
| <ref name="banknote13x"/>
| Rls&nbsp;20,000
|163 × 78
| style="text-align:center; background:#a1caf1;"|
| Blue
| Ruhollah Khomeini
| [[Aghazadeh Mansion]]
|-
| <ref name="banknote.ws">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0149ao.jpg|title=Image: IRN0149ao.jpg, (600 × 282 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| <ref name="banknote14">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0149ar.jpg|title=Image: IRN0149ar.jpg, (600 × 281 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;50,000
|166 × 79
| style="text-align:center; background:#c72;"|
| Ochre
| Ruhollah Khomeini
| Map of Iran with [[Rutherford model#Symbolism|Atom symbol]], quote in Persian from the prophet [[Mohammed]] ("''If the science exists in this constellation, men from Persia will reach it"''), and "[[Persian Gulf]]" in English
|-
| <ref name="banknote.ws"/>
| <ref>{{Cite web |title=IRN0155-2r.jpg |url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0155-2r.jpg}}</ref>
| Rls&nbsp;50,000
|166 × 79
| style="text-align:center; background:#c72;"|
| Ochre
| Ruhollah Khomeini
| [[University of Tehran main entrance]]
|-
|<ref name="banknote15">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0151o.jpg|title=Image: IRN0151o.jpg, (600 × 281 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
|<ref name="banknote16">{{cite web|url=http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN0151r.jpg|title=Image: IRN0151r.jpg, (600 × 280 px)|publisher=banknote.ws|access-date=2015-09-06}}</ref>
| Rls&nbsp;100,000
|166 × 79
|  style="text-align:center; background:Olive;"|
| Light olive greenish
| Ruhollah Khomeini
| [[Saadi (poet)|Saadi's]] Mausoleum in [[Shiraz]]
|}

=== Intergenerational series (2019–2023) ===
In preparation for an upcoming redenomination whereby Rls&nbsp;10,000 will become one toman, notes of this series display the numerical value in tomans as well as rials (the latter with the trailing four zeros de-emphasized). Due to a shortage of paper currency, higher denominations have been issued as cheques rather than legal tender banknotes.

{|class="wikitable" style="font-size: 90%"
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
|
|
| Rls&nbsp;10,000<br>(1 toman)
| 156 × 71
|  style="text-align:center; background:Grey;"|
| Grey
| [[Ruhollah Khomeini]]
| [[Avicenna Mausoleum]] in [[Hamadan]]
|-
|
|
| Rls&nbsp;20,000<br>(2 tomans)
| 156 × 71
|  style="text-align:center; background:Blue;"|
| Blue
| Ruhollah Khomeini
| [[Maqbaratoshoara]] in [[Tabriz]]
|-
|
|
| Rls&nbsp;50,000<br>(5 tomans)
| 156 × 71
|  style="text-align:center; background:Purple;"|
| Purple
| Ruhollah Khomeini
| [[Tomb of Hafez]] in [[Shiraz]]
|-
|
|
| Rls&nbsp;100,000<br>(10 tomans)
| 156 × 71
|  style="text-align:center; background:Green;"|
| Green
| Ruhollah Khomeini
| Tomb of Saadi in Shiraz
|}

;2019
*Rls&nbsp;500,000 (50 tomans) cheque <ref>{{Cite web |date=2019-01-02 |title=Iran new 500,000-rial cheque (B296a) unveiled 01.01.2019 |url=https://banknotenews.com/?p=1664 |website=BanknoteNews}}</ref>

;2020
*Rls&nbsp;100,000 (10 tomans) <ref>{{Cite web |date=2020-11-17 |title=Iran new 100,000-rial note (B301a) reported |url=https://banknotenews.com/?p=31432 |website=BanknoteNews}}</ref>
*Rls&nbsp;1,000,000 (100 tomans) cheque <ref>{{Cite web |date=2020-08-09 |title=Iran new 1,000,000-rial cheque (B297a) reportedly introduced on 07.08.2020 |url=https://banknotenews.com/?p=30188 |website=BanknoteNews}}</ref>

;2021
*Rls&nbsp;10,000 (1 toman)
*Rls&nbsp;20,000 (2 tomans)
*Rls&nbsp;50,000 (5 tomans) <ref>{{Cite web |date=2021-02-08 |title=Iran new 10,000-, 20,000-, and 50,000-rial notes (B298a – B300a) reported for introduction "soon" |url=https://banknotenews.com/?p=32208 |website=BanknoteNews}}</ref>

;2023
*Rls&nbsp;2,000,000 (200 tomans) cheque

===Issuance of larger notes===
Printing banknotes larger than Rls&nbsp;10,000 was first proposed in 1989, and in 1992 the central bank asked for government permission to print Rls&nbsp;20,000, Rls&nbsp;50,000 and Rls&nbsp;100,000 notes. This was not realized at that time, due to fears of inflation and [[counterfeiting]].<ref name="high" /> The Rls&nbsp;10,000 note remained the highest valued banknote for more than 50 years until 2005, when a Rls&nbsp;20,000 banknote was introduced and subsequently a Rls&nbsp;50,000 banknote was introduced with the subject being the Iranian [[Nuclear program of Iran|nuclear energy program]]. The note was issued March 12.<ref>{{cite web |title=Standard Catalog of World Papermoney Update - Iran |work=Nachthund's World Paper Money |publisher=nachthund.biz |year=2007 |url=http://www.nachthund.biz/CatalogUpdate/Iran/IranIndex.html |archive-url= https://web.archive.org/web/20090107155937/http://www.nachthund.biz/CatalogUpdate/Iran/IranIndex.html |archive-date=2009-01-07}}<!--Initially Accessed 05/03/2007--></ref><ref>{{cite web |title=5 هزار تومانی از پس فردا در دست مردم |language=fa |publisher=baztab.info |url=http://baztab.info/news/62624.php |archive-url=https://web.archive.org/web/20070928092441/http://baztab.info/news/62624.php |archive-date=2007-09-28
|access-date=2012-10-02}}<!--The assumed language is Persian; remove this comment when data is correct.--></ref> The note features a quote by the prophet [[Mohammed]], translated as: "Even if knowledge is at the [[Pleiades]], the people from the land of [[Persia]] would attain it".<ref>{{cite news |script-title=fa:اسکناس پنج هزار تومانی با آرم انرژی هسته ای |language=fa |work=BBCPersian.com |publisher=bbc.co.uk |date=2007-03-03 |url=http://www.bbc.co.uk/persian/business/story/2007/03/070303_mv-five-thousand.shtml |access-date=2012-02-07}}</ref>
[[Banknote]]s currently in circulation are Rls&nbsp;100, Rls&nbsp;200, Rls&nbsp;500, Rls&nbsp;1,000, Rls&nbsp;2,000, Rls&nbsp;5,000, Rls&nbsp;10,000, Rls&nbsp;20,000, Rls&nbsp;50,000 and Rls&nbsp;100,000. After the death of [[Ruhollah Khomeini]], his portrait was used on the obverse of Rls&nbsp;1,000 banknotes and greater.

===Cash cheques===
{{See also|Central Bank of Iran#Payment systems|l1=Payment systems in Iran}}
Currently the highest valued [[legal tender]] banknote issued by the central bank is Rls&nbsp;100,000 (about US$2.4 on Aug. 22, 2023).<ref name="Strict New Procedures for Iran Currency Trading After Protest">{{cite news|url=https://www.nytimes.com/2012/10/09/world/middleeast/iran-places-new-restrictions-on-currency-trading.html |date=October 8, 2012 | work=The New York Times |first=Thomas |last=Erdbrink |title=Iran Places New Restrictions on Currency Trading |access-date=2012-10-08}}</ref> However Rls&nbsp;500,000 and Rls&nbsp;1,000,000 Iran Cheques circulate freely and are treated as cash.

The central bank used to allow major state banks to print their own banknotes known as "cash cheques". They were a form of [[bearer check|bearer]] [[teller's check|teller's-cheque]] with fixed amounts, printed in the form of official banknotes. Once they were acquired from banks, they could function like cash for a year. Two forms of these banknotes were available. One known as "Iran cheque" could be cashed in any financial institution, while the other could be cashed at the issuing bank. They were printed in denominations of Rls&nbsp;200,000, Rls&nbsp;500,000, Rls&nbsp;1,000,000, Rls&nbsp;2,000,000 and Rls&nbsp;5,000,000.<ref>{{cite web|url=http://www.cbi.ir/showitem/3282.aspx |title=CBI |publisher=Cbi.ir |access-date=2012-02-07}}</ref><ref>{{Cite web|title = IRAN - HIGH DENOMINATION CHEQUES|url = http://www.banknote.ws/COLLECTION/countries/ASI/IRN/IRN-CHQ.htm|website = www.banknote.ws|access-date = 2015-09-07}}</ref>

In 2008, CBI revoked this privilege from banks, and currently issues its own Iran Cheques in denominations of Rls&nbsp;500,000, Rls&nbsp;1,000,000,<ref>{{cite web|url=https://banknotenews.com/?p=39377 |title=Iran issues 500,000- and 1-million rial cheques |publisher=banknotenews.com |access-date=2012-02-07}}</ref> and Rls&nbsp;2,000,000.<ref>{{cite web |url=http://www.banknotenews.com/files/a32bd1dfc96b1c70ed80edc8ba5c4595-405.php |title=Iran new 2-million rial cheques (B291.5a) confirmed |publisher=banknotenews.com |access-date=2023-04-18 |archive-date=September 17, 2011 |archive-url=https://web.archive.org/web/20110917181317/http://banknotenews.com/files/a32bd1dfc96b1c70ed80edc8ba5c4595-405.php |url-status=dead }}</ref>

{|class="wikitable" style="font-size: 90%"
|-
!colspan=9| Iran Cheque
|-
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Dimensions<br />(millimetres) !!rowspan=2 colspan=2| Main color !!colspan=2| Description !!rowspan=2| Year
|-
! Obverse !! Reverse !! Obverse !! Reverse
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;500,000
| 160 × 75
|  style="text-align:center; background: Purple;"|
| Purple 
| [[Imam Reza Shrine]] in [[Mashhad]]
| [[Persian Calligraphy]]
| 2008
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;500,000
| 142 × 71
|  style="text-align:center; background: Indigo;"|
| Indigo
| Imam Reza Shrine in Mashhad
| [[Tomb of Hafez]]
| 2015
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;500,000
| 156 × 71
|  style="text-align:center; background: Red;"|
| Red
| Imam Reza Shrine in Mashhad
| [[Mount Damavand]] in [[Mazandaran]]
| 2019
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;1,000,000
| 160 × 75
|  style="text-align:center; background: Brown;"|
| Brown
| [[Tachara]] in [[Persepolis]]
| Persian calligraphy
| 2008
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;1,000,000
| 160 × 75
|  style="text-align:center; background: Blue;"|
| Blue
| Tachara in Persepolis
| Persian calligraphy
| 2009
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;1,000,000
| 156 × 71
|  style="text-align:center; background: Blue;"|
| Blue
| Tachara in Persepolis
| [[South Pars/North Dome Gas-Condensate field|South Pars Gas-Condensate field]] in [[Persian Gulf]]
| 2020
|-
| bgcolor=black align=center | 
| bgcolor=black align=center | 
| Rls&nbsp;2,000,000
| 160 × 75
|  style="text-align:center; background: Teal;"|
| Teal
| [[Karun-3 Dam]]
| Persian calligraphy
| 2023
|}

==Printing==

Security Paper Mill (called TAKAB) is a [[paper mill]] and a [[subsidiary]] of the [[Central Bank of Iran]] responsible for production of [[security paper]]s, including those of the Iranian rial banknotes located in the city of [[Amol]].<ref name="CBI">{{citation|chapter-url=http://www.cbi.ir/page/4252.aspx|title=Central Banking in Iran|page=19|chapter=Security Paper Manufacturing Complex (TAKAB)}}</ref>

==See also==

* [[Central Bank of Iran#Digital currency|Electronic currency in Iran]]
* [[Iranian qiran]]
* [[Iranian toman]]
* [[International rankings of Iran#Economy|International rankings of Iran in economy]]
* [[Shetab Banking System]]
* [[Economy of Iran]]
* [[Iranian Oil Bourse]]
* [[Saudi riyal]] ({{lang|fa|﷼}})

==References==
{{Reflist|30em|refs=https://english.tgju.org/profile/price_dollar_rl}}

==External links==
* [http://irancollection.alborzi.com Iran Collection, a website about Persian banknotes and coins since Qajar era.] {{Webarchive|url=https://web.archive.org/web/20210126095027/http://irancollection.alborzi.com/ |date=January 26, 2021 }}
* [http://www.cbi.ir/section/1372.aspx Statistics], Central Bank of Iran
*{{Wikivoyage inline|Iran}} (information on [[Foreign exchange market|currency exchange]] and [[credit card]] payment)
*[https://financialtribune.com/tags/iran-currency-news Latest news about Iran currency], ''Financialtribune'', The First Iranian English Economic Daily
;Videos
* [http://theiranianrial.net/irans-gold-and-currency-markets/ Iran's gold and currency markets Iran's gold and currency markets] ([[Press TV]] 2012)
* [https://www.youtube.com/watch?v=6OJhhdIQN7c Gold market and currency exchange in Iran - Part I] [https://www.youtube.com/watch?v=-V6_gs_d154 Part II] [https://www.youtube.com/watch?v=Kms7YBO0zbo Part III] (Press TV)
* {{YouTube|nInPFJIbvq8|The Pyramidal Mirage - "Gold Quest" Scam in Iran}} (Press TV)

{{n-start|title=Iranian Rial}}
{{n-before|currency=[[Iranian qiran]]|reason=removed from Iranian currency by [[Bank Melli Iran|National Bank]]|ratio=at par}}
{{n-currency|location=[[Iran]]|start=1932|end=TBD}}
{{n-after|currency=''[[Iranian toman]]''|reason=financial reform}}
{{end}}

{{Dinar}}
{{Currencies of Asia}}
{{currency symbols}}
{{Portal bar|Asia|Economics|Iran|Money|Numismatics}}

{{DEFAULTSORT:Iranian Rial}}
[[Category:Currencies of Iran]]
[[Category:Currencies introduced in 1798]]
[[Category:Currencies introduced in 1932]]
[[Category:Currency symbols]]
[[Category:Currencies of Asia]]
[[Category:Circulating currencies]]
[[Category:Dinar]]