How to exchange money in Iran?

One of the things we deal with when traveling to foreign countries is exchanging our money for local currency. The most important aspect is knowing the currency used in that country and finding the right places to exchange our money for their currency.

The official currency unit in Iran is the Rial, and the country’s common currency is banknotes and metal coins. Before your trip to Iran, consider the amount of money you’ll need for various expenses. Research the current Iranian Currency Exchange Rate and set a budget to avoid overspending or running out of funds. After that, one of the essential aspects to consider is how to exchange money in Iran. The Iranian currency system, with its unique interplay between Rial and Toman, can be perplexing for outsiders. In this article, we’ll break down the intricacies of exchanging money in Iran, providing you with valuable insights to ensure a smooth and informed financial experience.

What is the Iranian currency? Toman vs Rial

US Dollars to Iranian Rials Exchange Rate

US Dollars to Iranian Rials Exchange Rate

Two terms often come up when discussing the Iranian currency: Rial and Toman. These terms have a unique history and purpose within Iran’s financial landscape. The Rial, denoted by the symbol “IRR,” serves as the official currency of Iran. However, its usage is more prominent in official documents and international transactions than in day-to-day transactions among the Iranian population. The Rial’s value has experienced fluctuations over time, leading to the common use of the Toman as a more practical currency unit.

The Toman, not an official currency but a colloquial term, gained popularity due to its simplicity in everyday transactions. One Toman is equivalent to 10 Rials, offering a more manageable way of pricing goods and services for Iranians. This informal unit has become deeply rooted in Iranian culture and is widely used daily. The distinction between Rial and Toman goes beyond simple arithmetic. It reflects Iranian society’s economic and cultural aspects, influencing everything from pricing strategies to public discourse.

Ways to exchange money in Iran

Money Exchange in Iran

When you’re in Iran and need to change your money, here’s some money changer in Iran and what you’ve got to do:

Exchange Offices (Sarrafi): These are your go-to spots forexchanging money in Iran. You’ll find them in busy areas like markets and tourist spots. They offer competitive rates and are usually quicker than banks. Just compare rates at a couple of places before making the swap.

Banks: Banks are an option if you prefer the legit route. Most major banks deal with foreign currency exchanges. While it may be more bureaucratic, it’s a safe bet. Just be prepared for some paperwork and potentially longer processing times.

Black Market Warning: It might sound enticing, but engaging with street dealers for currency exchange is a big no-no. It’s not only illegal but can also put you at risk of scams or getting counterfeit money. Stick with legal options to avoid unnecessary trouble.

Using Credit Cards: While some bigger businesses and hotels accept credit cards, they don’t solely rely on plastic. Smaller shops and more remote areas often deal in cash only. Plus, cash can help you haggle and negotiate better deals.

Stay Informed: Exchange rates can be as unpredictable as the weather. Keep track of the rates using apps, websites, or even checking with locals. This will help you time your currency exchange for when you’ll get the most out of your money.

Exchange Offices in Different Cities of Iran

Exchanging Your Money in Iran

Exchanging Your Money in Iran

When you want to exchange money in Iran, you will find many exchange offices in various cities. These exchange offices, often called “Sarrafi” shops, can be found in bustling marketplaces, busy tourist districts, and major commercial areas. Whether you’re strolling through Tehran’s grand bazaars, exploring the ancient city of Isfahan, or soaking in the cultural vibes of Shiraz, you won’t have to search far to find these currency exchange spots. These offices offer travelers the convenience of converting their foreign currency into Iranian Rials at competitive rates, making it easy to manage your finances while navigating Iran’s diverse landscapes and attractions. Each city has its network of exchange offices, ensuring that you’ll have access to currency exchange services wherever your journey takes you. Here are a few examples of exchange offices in different cities where you can exchange money in Iran:

Tehran: You’ll find many exchange offices in Tehran, particularly around its bustling Grand Bazaar, Ferdowsi Square, and Enqelab Street. Look for well-known spots like Ferdowsi Exchange or Sarafi Azadi.

Isfahan: As you explore the stunning architecture of Isfahan, you can also find currency exchange services. Check out Sarafi Naghsh-e Jahan or Sarafi Abbasi near the iconic Naqsh-e Jahan Square.

Shiraz: In this city of poets and gardens, you can conveniently exchange money at places like Sarafi Hafez or Sarafi Vakil, located near the vibrant Vakil Bazaar.

Tabriz: Tabriz offers exchange options like Sarafi Saat Square, catering to the needs of travelers exploring its historical sites and markets.

Yazd: While wandering the narrow alleys of Yazd, keep an eye out for Sarafi Amir Chakhmaq, providing currency exchange services for visitors.

Mashhad: Known for its religious significance, Mashhad has exchange offices like Sarafi Al-Mahdi to accommodate pilgrims and tourists alike.

Kerman: Look for Sarafi Arg-e Bam in Kerman, a city rich in history and culture.

Rasht: While enjoying the Caspian Sea coastline, you can find exchange services at Sarafi Namayandegi.

These are just a few examples, but rest assured that most major cities and even smaller towns in Iran have their network of exchange offices to help travelers manage their currency needs. It’s always a good idea to inquire with locals or your accommodation for recommendations on reliable exchange offices in the specific city you’re visiting.

What is the best currency to bring to iran?

Money Changer In Iran

Money Changer In Iran

When traveling to Iran, the best currency to bring is the US Dollar (USD) or the Euro (EUR). These are widely accepted and relatively easy to exchange for Iranian Rials (IRR) at exchange offices or banks. The US Dollar and Euro have better availability and exchange rates than other foreign currencies. The Euro and US Dollars to Iranian Rials Exchange rate is higher than other currencies.

FAQs about exchange money in Iran

  • where to exchange your money in Iran?
    If you’re wondering where to swap your cash for local currency in Iran, here’s the lowdown:
    Exchange offices, often called “Sarrafi” shops.
    Banks are another option.

    Word of advice: steer clear of the black market.

  • Is the dollar accepted in Iran?
    You can use US dollars in Iran, especially in more touristy places and larger cities. Some hotels, upscale restaurants, and bigger businesses might accept dollars. But keep in mind the official currency is the Iranian Rial, so you’ll need to convert your dollars to Rials for most day-to-day transactions. Having some local currency on hand for smaller purchases and navigating places where dollars might not be widely accepted is a good idea.
  • Does Iran use Paypal?
    Iran does not have access to PayPal due to sanctions and restrictions. Transactions involving Iranian accounts or involving Iranian businesses are generally not supported by PayPal.