You have decided to travel to Iran probably because it’s easy to afford. There has been a huge drop in the value of Iranian rial in recent years and that has attracted many foreign tourists from all over the world. If you google USD to IRR you will find the number 42,105.00 but when you do your first Money exchange in Iran at the airport you will realize that you have got much more than what you had expected. Read the article below to understand why:
The central bank of Iran exchange rate
The central bank of Iran has announced very low, fixed money exchange rates a few years ago but the point is that those numbers do not exist! For instance, a USD, according to the central bank, is worth 42000 rials. However, the actual rate is almost three times more. Be careful when you are exchanging your money to Iranian rials; some frauds might tell you the rate is the one in the central bank and give you 1/3 of what you actually should receive.
You might be interested to know: how to get a SIM card in Iran
Iran currency exchange rate today
It’s going up and down every day! There is nothing to worry about though; the fluctuations are not huge. You can check the rates live on www.bonbast.com or contact 1stQuest support team ([email protected]) to ask about the rates before you pack your bags.
Also read Iran travel guide; currency and cellphone
Iranian rial exchange rate in the open market
It is almost what you see on www.bonbast.com. However, the rates might differ place to place. That means you might find different numbers in Exchange Bureaus, hotels, hostels and individual freelancers in the streets. Like every other country, there could be people who want to take advantage of you as a foreigner and gain some more money; so make sure you go to the right place and check the money Exchange rate in several places. Also, keep in mind that the common Iran currencies to exchange are USD, EUR, and GBP; think about changing your money to one of those currencies before you land in Iran.
If you need more help on this subject, read Money and Costs; which budget to travel in Iran?
What is the difference between Iranian rial and toman?
This is something to learn before you set foot in Iran. Because there are too many zeros on Iranian banknotes, the last zero is omitted in daily conversations between locals and then the Iran currency is called “toman”. For example 100,000 rials equals 10,000 toman. Rial, however, is still the official word referred to Iranian currency.
The commonly used banknotes in Iran are 10,000 , 20,000 , 50,000 , 100,000 and 500,000 rials. Take a look at the photos below to familiarize yourself with Iranian money.
Also check out: Iran laws for tourists
Money in Iran
How much money can I take to Iran?
Since the value of Iranian rial compared to USD or EUR is very low, you will not need a lot of money for your Iran trip. Always keep in mind that you should take all you need in cash; none of your credit or debit cards will be of help in Iran due to the American sanctions. The maximum amount for each passenger is $5000. You might think carrying a lot of cash with you would be really dangerous and tough. Well, you are right. However, there is a solution to this problem; you can get an Iranian travel debit card and put all your money in the card safely. The card can be used by all the POSes and ATMs everywhere in the country. For more information, please send an email to [email protected].
Also read Money matters; Do you need a travel debit card for your Iran trip?