Your plane has just arrived in Iran, you pick up your backpack from the luggage belt, the officer at immigration checks the reservation of your hostel in Tehran, gives you a warm welcoming smile and happily stamps your Iranian visa, you successfully clear out of customs and your next thought is: I need money! So off you go to the next exchange place. And here is when it starts getting confusing. What’s the currency in Iran? Iranian Rial? Toman? Or is it even possible to pay in US Dollars? Don’t worry, we tell you everything you need to know, so that you won’t get ripped off on your first day.
Due to the American sanctions, Iran does not have access to the international banking system. This means international credit cards (like Visa, Master ...) are completely useless in Iran. Shops, public transportation, hotels and restaurants will only accept cash or Iranian debit cards which you cannot have as a foreigner here (unless you apply for Iran prepaid 7Coin debit cards before your trip). Having said so, make sure you plan your trip carefully before coming to Iran and bring enough cash to cover you for the whole extend of your trip. If you run out of money, few places will be able to accept international credit cards and help you out with money. But be assured, they will take a commission for their service. Here is how they send money to Iran.
The official currency is Iranian Rial (IRR) and all notes are printed in Iranian Rial. But in daily life, locals almost always talk about Toman. Don’t get confused. Toman is just another way to tell the price of goods and services, but there are no actual bank notes in Toman. Whatever it is in Iranian Rial, delete one zero of the amount and you have the price in Toman and vice versa.
For example: Your International Airport taxi driver asks for 80.000 Tomans. Add one zero and you have the price in Rial (800.000 IRR).
Although some hostels and hotels in Iran accept US dollar or Euro, always make sure you have some of your cash exchanged in Iranian money. And you'd better exchange at official exchange shops, and not in the black market.
All the big cities in Iran have official money exchange places where you can exchange without worrying about getting ripped off. All shops have signs and are called "Sarrafi" and there are boards or monitors showing the current exchange rate. Euro €, US Dollar $ or British Pound are accepted anywhere and many places also exchange currencies from other countries. The best place to exchange money in Tehran is Ferdowsi Sq where there are hundreds of exchange shops. There is a Tehran metro station at the square making it easily reachable and if you are staying at our Tehran hostel, you can even walk to it.
Iranian bank notes come in denominations of 10.000, 20.000, 50.000, 100.000, 500.000 and 1.000.000 IRR. Coins have a value of 1.000, 2.000 or 5.000 IRR.
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