Credit Cards

As the IRI banking system is not connected to international banks, credit cards cannot be used in Iran. Iran has a network of ATMs, used for locally-issued cash/debit bank cards issued by local Banks.

Iran Official Currency (Rial)

The currency in Iran is the Iranian Rial (IRR). The “Toman” (tumân), deduct a zero from the Rial amount, is the unofficial unit of currency and people think, calculate and trade with the Toman. One “Toman” equals 10 Rials but amounts of money and prices of goods are formally expressed in Rials. If the label on a loaf of bread in a store shows the price as “10,000 Rials,” the clerk will say that bread costs “1000 Tomāns”. 

In December 2016, the Iranian government announced the country’s currency would change from the Rial to the Toman, which needed the Parliament’s approval and has not been passed so far. Coins have values of 50, 100, 250, 500, 1,000, 2,000 and 5,000 Rials and banknotes 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000. Iran Cheques are used, IRR500,000 as cash these days. Most of the deals, sales and purchases these days is through bank cash cards or mobile apps, although cash is used in some cases. Large amounts of cash are transferred using guaranteed bank checks. Payment to taxis is usually by cash.

Currency Exchange

Currency Exchanges (Money Changers in Iran) can be found across the city: at Imam Khomeini International Airport, in the center of Tehran and other big cities and in most modern shopping centers and malls. A network of currency exchange offices operates in Tehran and in major cities under license of Iranian Melli Bank (Bank-e Melli). Many banks offer currency exchange facilities, but not in all their branches. Ask your host and hotel staff for further advice.

Currency Exchange

Export Development Exchange Broker Co

January 26, 2021
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