Money and Currency in Iran

Money and Currency in Iran

city: Iran
218
0

Iran Currency, Rial and Toman?


There are two currencies used in Iran; Rial and Toman. Rial is the official currency and is used in official papers, agreements, banknotes and coins while people vastly use Toman instead for their everyday financial affairs. For example, when you are shopping in a supermarket and you are ready to pay, the currency you will hear is something like 10.000 Tomans and that’s time for calculations! But don’t worry! Here is how you can relate Rial and Toman! Each 10 Rials equals 1 Toman, so when you are asked for 10.000 Tomans, you are supposed to pay 100.000 Rials (a 100.000-rial Note, two 50.000-rial Notes, 5 20.000-rial Notes, or ten 10.000-rial Note). There is also a much simpler tip to convert your note’s currency to Toman. All you have to do is to eliminate one zero from the end of note’s number and then, you are seeing the Tuman currency. For example, 20.000 Rial minus one zero equals 2.000 Tomans.
Another dilemma a foreigner may face while shopping or paying in Iran is to hear only a simple number of 5 or 50 or 150 Tomans. This problem can also be easily solved taking a look at the below table:

 

Rial

Toman

Spoken Toman

20.000

2.000

2

50.000

5.000

5

100.000

10.000

10

500.000

50.000

50

1.000.000

100.000

100

1.500.000

150.000

150

 

 

 

 

 

 

 

 

 


In the following, you will get familiar with different Iranian banknotes and coins:

Money Exchange in Iran:


Once you arrive in Iran, you will definitely need to exchange your money to the country’s currency (Rial). It is much recommended to bring US Dollar or Euro notes with yourself as they are more convenient to be changed.

Airport:
The first place to change your money is the airport you are landing in.  In the airport, there are money exchange shops and national banks to provide you this service before heading to the city. You can start with the least money you need to pay for your taxi to get to your hotel, if you are not using our transfer services on a tour. 
Banks:
Banks are the first trusted place for you to change your currency. Get to a bank which offers foreign currency services and ask for a change.
Exchange shops:
Changing your money at an exchange shop can be easier and quicker as it has less paperwork comparing to the banks. 
Ferdowsi Square and Avenue is the heart of money exchange shops in Tehran. You can get to this place by taking a taxi, snapp (online taxi) or simply take off in  Ferdowsi Subway station (line 4/yellow).
Hotels and Guesthouses:
In many hotels and guesthouses, the owners provide money exchange services in a good price for their clients’ convenience. 
Trust your guide:
You can consider our guides as your first trustful friend in Iran and simply ask them about the best way to exchange your money.

 

Credit Cards:

 

 


Unfortunately, your International credit and debit cards cannot be used in Iran because of the sanctions. So you may find it more convenient to use the cash money. But, carrying a big amount of cash money has its own risks and problems in a foreign country. 
Recently, there are some Iranian credit cards issued for tourists and provide the chance to carry the exchanged money to Rial in a credit card and easily pay money at ATMs, POS devices and for online shopping. 

 


Tourist Credit Card:


The National Bank of Iran (Bank-e Melli Iran), has taken a helpful step by issuing “Tourist Credit Card” for tourists to exchange their cash amount into a credit card and spend Rial while traveling in Iran.  The charging limit for this electronic debit card is 5,000 USD and the expiry date will be a year after the card issuance. 

The branches of Bank-e Melli which offer foreign currency services and the kiosks with card issuing technology are ready to provide you the Tourist Card. All you have to represent is your passport and your Iran visa.
Don’t worry if you miss or damage your card. You can have your card reissued in similar branches and kiosks. You can also exchange back the money left in the card in exchange shops at the end of your trip.

 

Mah Card:


MahCard is another recent solution to solve credit cards problem for tourists. Mahcard is active since 2017 and works with different major Iranian banks to help tourists access the electronic payment while traveling in Iran.
To get this card you need to go to the MahCard official website (mahcard.com) and provide some necessary information such as the arrival date, accommodation, passport details, etc. 


To have a peace of mind, remember that Fotros team is also eagerly ready to take care of this service and let you enjoy your trip and shopping souvenirs in Iran at its best.

 

 

Sign up for our free newsletter