Iranian Rial

About Iranian Rial

One of the least valued currencies in the world per unit. The rial has been the official currency since 1798, though Iranians often use the toman, equal to 10 rials, in everyday speech. The rial was pegged to the US dollar before the 1979 revolution. Decades of sanctions, mismanagement, and inflation have destroyed its value. The Iranian government has proposed redenomination multiple times but never implemented it. The 50,000 rial note is commonly used for everyday purchases.