The British newspaper Financial Times reported on Saturday that Iran has issued a new 10-million-rial banknote, the highest denomination in the country's history. The move comes as authorities scramble to contain soaring inflation and meet the surging demand for cash amidst the ongoing conflict.
اضافة اعلان
According to the report, Iranian banks have begun distributing the new currency—equivalent to approximately 7 U.S. dollars—as citizens form long queues at ATMs to withdraw funds. Many fear potential disruptions to electronic payment systems, leading to some machines running out of cash.
The Central Bank of Iran (CBI) stated that the introduction of the new denomination aims to "ensure public access to cash," while maintaining that electronic systems, including debit cards and digital banking, will remain the primary means of transaction.
However, the Financial Times noted that banks are currently imposing withdrawal limits and providing only restricted amounts of cash to customers.
This new 10-million-rial note is now the highest-value currency in circulation, surpassing the five-million-rial note introduced earlier this year.
The issuance of the new currency follows mounting economic pressure as the war enters its fourth week. Recent joint U.S.-Israeli strikes have targeted critical infrastructure, including key banking and financial institutions.
