Iran is the home to the second largest country in the Middle East. As ancient Persia, it controlled lands beyond its borders. Today, it sits surrounded by Iraq, the Caspian Sea, Kuwait, Pakistan, Azerbaijan, Afghanistan, the Persian Gulf and Turkey. It relies heavily on the export of oil to prop up its economy. The currency is the rail. It lists as IRR. Rarely mentioned or used the rate of currency is 1 toman to 10 rials.
History
Iran is a new country, forming
in 1934. Persia, however, dates back to antiquity. The first coins for
Iran date from 330 B.C. By the 6th century B.C., gold and silver pieces
minted in Turkey were circulating in Persia-Iran. Some of the Athenian
“Owls” also came to the country. The Greek influence continued to grow
under Alexander the Great (362-323 B.C.). Greek-style cons began to
appear in the name of the governor of the time, Andragoras.
The
Parthians next made their impact on the region’s currency. There were
actually issues by the Parthians and in the Persis and Elymois kingdoms
during this period. Their influence waned with the Sausanian Empire.
Their ruler, Ardashir I, issued a new coinage with his own portrait on
the obverse. From around 674 A.D., similar coinage continued to appear
across Persia-Iran.
The
Islamic conquest saw the assassination of the Sausian rulers. Coinage
remained the same until the Umayyad reform of 702. Inscriptional
designs became prominent. Under the Abbasid Caliphate, lasting for
around 500 years, the currency became national, although a few
independent and local minting did occur. This the Mongols destroyed.
They replaced the coinage eventually changing the inscription only. It
was now in Arabic.
Tamburlaine (Timur) advanced the design work of
the currency. Mongolian designs became the norm but the script was more
decorative. Calligraphy became an art on these coins. This type of
design work caught on and continued under the rule of the Shahs from
1501. It continued unabated until the 19th century.
Standardization was the word for early 19th century coinage. Mechanization soon followed with the first machine-made coins appearing in 1876. It remained active until 1931. In this year, a new coinage appeared. The sun and the lion became part of the design, returning after a lapse. The Islamic Republic retained the lion and sun designs as well as the denomination of coins. Imageless coins also became the norm. The smaller dinats slowly disappeared over the period.
The Iran-Iraq war from 1980-1988 and the Gulf War of 1991, had a profound effect on the economy and the currency. Today, while the toman is a reference point, the only money in use is the rial. The coins consist of 50, 100, 259 and 500 rials while the banknotes are in denominations of 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000
Obtaining Iranian Rials
If you do decide to go to Iran, you can obtain local currency from the banks. There are a few ATMs in the urban areas. Tehran is one city who has some.
Protecting Your Currency
Iran is a city with a high security warning. It is not safe to visit. Crimes against tourists and other foreigners is becoming a fact-of-life. Kidnapping, terrorism and other high-level crimes are showing no sign of decreasing.
Using Your Iranian Rials
If you decide to go to Iran, you will require currency for all your purchases. One of the most common handicrafts you may wish to buy is a carpet.
Travel Tips and Warnings
- If you do not have to go to Iran, do not do so. It is a volatile country
- The borders between Iran and Pakistan or Iran and Afghanistan are not safe.
- If you do go, dress conservatively out of respect for the country’s religious population.
- If you make it to Tehran, go to the Museum of Iranian Pottery or the Carpet Museum.
- Depending upon the situation, follow the Silk Road visiting the Golden Triangle.
Overview
At
the moment, Iran is not the ideal place to either visit or do business.
It is suffering from the fatigue of past and current wars. Religious
fanaticism and the volatile politics of the Middle East are a deterrent
to healthy development.
For travel information, see www.itto.org.
Currency Summary
Current currency: rials
Coins: 50, 100, 259 and 500 rials
Banknotes: 100, 200, 500, 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000