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Iranian Rial, equivalent to 100 dinars is the official Iran Currency. No part of the Iranian Rial is used for accounting purposes now-a-days, owing to its small nature.
Rial came into existence in early 20th century to replace Iranian Toman, the old Iran Currency. Shortened globally as Ris or RI, the present Iran Currency is available both in the form of paper notes and coins. 100, 200, 500, 1,000, 2,000, 5,000 and 10,000 are the denominations of IRR notes while the coins are of 5, 10, 20, 50, 100 and 250 IRR denominations.
Rial as Iran Currency can be bought from foreign exchange banks as well as other authorized money-exchange centers. The currency exchange counter found at Tehran International Airport is at constant service of foreign travelers during normal working hours. It is these cash exchange counters that help the immigrants to exchange their currencies for obtaining Iranian Rial. However, the rate of money exchange varies on regular basis, depending upon the condition of Iran's financial market.
Exchange of Iran Currency in case of foreigners takes place on the basis of 3 distinct methods. Either they are replaced in banks after arriving at the national airports. No dishonesty and black marketing is tolerated at the time of money exchange. Hence, tourists no longer require carrying traveler's cheque or cash with them, unless under emergency situations. The branches of almost all Iranian banks located in international airports facilitate exchange of currencies.
As per the international standards, Iran is a reasonable Middle-eastern country. The low rates of Iran Currency see to the fact that the inhabitants and travelers derive maximum benefits while using the money for various transactions.
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