Currency: Rials is Iran's official currency. Iranian Rial (IR) = 100 dinars. Notes are in denominations of IR10,000, 5000, 2000, 1000, 500, 200 and 100. Coins are in denominations of IR250, 100, 50, 20, 10 and 5.
Travellers cheques are not normally accepted.
Credit Cards
Although in recent years local banks have started promoting the use of credit cards such as Visa by Bank Melli and Master Card by Bank Saderat, credit cards are not widely used. Some hotels do accept Visa and Master Card.
Exchange rate
$1.00= 3000.00IR
Currency restrictions: The import of foreign currency is unlimited if declared on arrival (there is a special form). The export of foreign currency is limited to the amount declared on arrival. The import and export of local currency is limited to IR200,000. Any amount larger than this requires authorisation from the Central Bank.
Banking hours: ” 08am-04pm Saturday to Wednesday; some branches are open 08am-8pm . ” Closed Thursday and Friday.
Note
Visitors are advised not to get involved in exchanging foreign currencies on the free market. This is illegal.
Travellers are advised to carry US dollar notes which is the most widely acceptable foreign currency.
