Iranian Rial
ریال
Currency Code
IRR
ISO 364
Symbol
IRR
Native: ﷼
Decimal Digits
0
Rounding: 0
Countries
IR
Using this currency
Currency Units
Major Unit
Name: rial
Symbol: ﷼
Minor Unit
Name:
Symbol:
Value: 0
Banknotes
Frequently Used
10000 ﷼20000 ﷼50000 ﷼100000 ﷼500000 ﷼1000000 ﷼
Coins
Frequently Used
5000 ﷼10000 ﷼20000 ﷼50000 ﷼
Plural Forms
English Plural
Iranian rials
Native Plural
ریال
Overview
The Iranian Rial is the currency of Iran, managed by the Central Bank of Iran. It has experienced significant depreciation due to international sanctions and economic challenges, but Iran remains a major oil producer with substantial natural resources.
Economy
- Iran is a member of OIC, OPEC, ECO, Non-Aligned Movement.
- Main industries include: Petroleum, Petrochemicals, Gas, Fertilizers, Caustic soda, Textiles, Cement, Other construction materials, Food processing, Ferrous and nonferrous metal fabrication, Armaments.
- Iran is part of the World Trade Organization.
- Imports are industrial supplies, capital goods, foodstuffs and other consumer goods, technical services.
- Major exports include petroleum, chemical and petrochemical products, fruits and nuts, carpets, cement, ore.
- GDP: $367.7 billion (2017 est.).
- GDP per capita: $4,683 (2017 est.).
- Unemployment rate: 10.5% (2019 est.).
- Inflation rate: 40.2% (2020 est.).
- Main trading partners: China, Iraq, Turkey, India, South Korea, Japan.
- Trade agreements: Limited due to sanctions, Regional agreements with neighbors.
History
- Previous currencies used: Toman, Various Qajar period currencies.
- The rial was introduced in 1798, derived from the Spanish real. It has been Iran's currency through various political systems including the Qajar dynasty, Pahlavi era, and Islamic Republic.
- 1798: Rial introduced during Qajar dynasty
- 1932: Rial stabilized under Reza Shah
- 1975: Rial pegged to USD
- 1979: Islamic Revolution impact
- 1993: Currency unification reforms
- 2010-present: International sanctions impact
- Exchange rate peg: USD (1975-1979).
- Exchange rate peg: Managed float with controls (1979-present).
General Information
- ISO 4217 Code: IRR
- Symbols: IRR/﷼
- Currency Subunits: 100 dinars
- Central Bank: Central Bank of Iran
- Monetary Policy: Multiple exchange rate system due to sanctions. Focus on managing inflation and supporting domestic production amid international restrictions.
- Bills: 1000 IRR, 2000 IRR, 5000 IRR, 10000 IRR, 20000 IRR, 50000 IRR, 100000 IRR, 500000 IRR, 1000000 IRR
- Coins: 50 rials, 100 rials, 250 rials, 500 rials, 1000 rials, 2000 rials, 5000 rials
- USD Exchange Rate: Variable (multiple rates due to sanctions, approximately 42,000+ IRR per USD)
- Pegged To: None (Floating)
- Capital: Tehran
- Population: 86,758,304 (2023 est.)
- Area: 1,648,195 km²
- Languages: Persian Farsi (official), Azeri, Kurdish, Gilaki, Mazandarani, Luri, Balochi, Arabic
- Time Zones: UTC+3:30 (Iran Standard Time), UTC+4:30 (Iran Daylight Time)
- Government Type: Theocratic republic
- Head of Government: Supreme Leader (head of state), President (head of government)
- Independence: April 1, 1979 (Islamic Republic established)
- Ethnic Groups: Persian 61%, Azeri 16%, Kurd 10%, Lur 6%, Baloch 2%, Arab 2%, Turkmen 2%, Other 1%
- Religions: Muslim 99.4% (Shia 90-95%, Sunni 5-10%), Other 0.3%, Unspecified 0.4%
- Literacy Rate: 85.5% (2016 est.)
- Transport: Tehran airports, road networks, limited rail system, Persian Gulf ports
- Communications: Restricted internet access, 84% internet penetration, mobile networks
- Energy: Oil 31%, Natural gas 58%, Hydroelectric 7%, Nuclear 2%, Other renewables 2%
- Countries Using This Currency: Iran
- Data Sources: Central Bank: Central Bank of Iran (cbi.ir), Economic Data: Statistical Center of Iran, World Bank estimates, IMF, Trade Data: Iran Customs Administration, Demographic Data: Statistical Center of Iran, Geographic Data: Iran Meteorological Organization, Historical Data: Central Bank of Iran archives
- Last Updated: 2025