The official currency of Iran is the Iranian Rial (IRR), that includes the currency of all banknotes and coins.
Iranian Rial is the official currency of Iran, but Toman is commonly used by Iranians to express the amount of money. 1 Toman is equal to 10 Rials. To express the amount of money in exchanges and banks the official currency, Rial, is used, while to tell prices of meals and goods in restaurants and shops, Toman is used.
All prices on Bonbast .com are in Iranian Toman
Foreign currencies in Iran are exchanged at two different rates: the official government rate and the free market rate. The official exchange rate is 42,000 rials (4200 Toman) to $1. The official rate is set by the government and is primarily used for the import of goods and services deemed essential by the government. In contrast, the free market rate is determined by the market forces of supply and demand. Individuals cannot buy any foreign currency at the official rate, and therefore the official rate has little practical use for most people. Most exchange websites like XE and Google display the official rate of the Rial, but Bonbast.com displays the free market rate.
Official money exchanges can be found in all major cities in Iran. Exchanges are called “Sarrafi” in Persian. Many exchanges in Tehran are located in Ferdowsi Square.
No, Iran does not have access to the international banking system. International credit cards like visa and master cards are not accepted anywhere in Iran. Shops, public transportation, hotels and restaurants will only accept cash or Iranian debit cards.
Businesses can acquire rates by using our web API. Please see the API page for more information.