Currency
The official currency in Iran is the Iranian Rial (IRR), abbreviated with the symbol “IRR” or sometimes “ریال” in Persian. However, you’ll often hear locals refer to prices in Toman, which can be confusing for first-time.The Toman is not a separate currency but a colloquial unit used to simplify transactions. 1 Toman equals 10 Rials. For example, if a shopkeeper says an item costs 50,000 Tomans, it means 500,000 Rials. This naming convention stems from historical usage and is now standard in everyday conversations.
Where to Exchange
Licensed Exchange Offices (Sarrafi):
Licensed exchange offices, commonly known as Sarrafi, are the most popular option for visitors. These offices are widely available in bustling areas such as markets and tourist spots. They typically offer competitive exchange rates and are known for their convenience and speed compared to banks. Many of these offices also have extended operating hours, making them a practical choice if you need to exchange money outside of regular banking hours. It’s advisable to compare rates at a few different offices before making your exchange to ensure you’re getting the best deal. While exchange offices are generally safe, always use licensed establishments to avoid any potential issues.
Hotels and Airports:
Although most hotels and airports offer currency exchange services, these should be used with caution. The rates at hotels and airport exchange counters are often less favorable than those you’ll find at banks or licensed exchange offices. These services are convenient, especially if you need to exchange money immediately upon arrival, but they should be considered a last resort. If possible, plan ahead to exchange your money at a more favorable rate in the city rather than relying on these options.