One of my favorite things to do whenever I enter a new country (like Iran) is analyzed their currency situation, exchange rate and how these things affect their economy.
I’ve handled many inflated currencies — such as the Indonesian RUPIAH and Vietnamese DONG — but here in Iran, the RIAL gets a lot more confusing than inflation.
Iran has 2 different systems to count their money. The first is RIALS (the official Iranian currency), and the second is TUMAN (which is like the Rial, without the last zero). As a traveler, you don’t know which price is listed unless you ask. $1 USD = 50,000 Rials and that same $1 dollar = 5,000 Tuman. Sound confusing? … It is!
Moreover, the only way to get money in Iran as a tourist is by bringing lots of cash (USD or Euros is preferred) and then exchanging it for Iranian Rials when you arrive. The reason is because there are no ATMs in Iran that cater to foreign banks.
If you are as confused reading this as I am typing it out, then this video will explain the confusing world of the Iranian Rial a little better.
Just curious, did you know anything about this before I made this video?