Iranian rial

The Iranian rial is the official currency of Iran, issued by the Central Bank of the Islamic Republic of Iran. Its value has been shaped by inflation, sanctions, and multiple exchange rates.

Central Bank of the Islamic Republic of Iran: Iran’s central bank manages monetary policy, issues currency, and oversees parts of the financial system. It issues rial banknotes and manages monetary policy affecting the currency.
Qajar Iran: The Iranian dynasty that ruled from 1789 to 1925, during a period of expanding foreign influence and state reform. The rial became Iran’s currency during the final years of Qajar rule.
Iranian payment system: The institutions and infrastructure used to transfer money and settle payments within Iran. Domestic payments are denominated in rials even when prices are spoken in tomans.
Iranian rial exchange rate: The price of the Iranian rial in terms of another currency, such as the US dollar. Separate official and open-market quotations give the rial different exchange-rate values.
Iranian toman: The toman is a common Iranian unit of account equal to ten rials, used widely in everyday prices. Prices are commonly quoted in tomans even though the rial remains the official unit.
Persian kran: A former Iranian monetary unit, subdivided into 20 shahi and replaced by the rial in 1932. The kran was the principal predecessor unit before the rial’s introduction.
Iranian subsidy reform: Changes to Iran’s system of government support for prices, energy, and household income. Subsidy changes affect the rial amounts households pay and receive.
Black market: Trade in goods or services through channels that evade legal rules or official controls. Foreign currency can trade outside Iran’s official exchange mechanisms.
Iranian rial banknotes: Paper currency denominated in rials and issued for circulation in Iran. Banknotes are the physical form through which the rial serves cash transactions.
Iranian Revolution: The 1979 revolution that ended the Pahlavi monarchy and established the Islamic Republic of Iran. The revolution transformed the state that issues and governs the rial.

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