Iran releases 2 million rial banknotes
New series of high-value notes introduced as value of currency continues to fall
The Central Bank of the Islamic Republic of Iran announced on March 15 that it had released a new series of 2 million rial notes as the value of the currency continued to fall.
The official exchange rate puts 2 million rials as $47.51, though independent estimates claim it is much lower levels, with one outlet saying each of the new notes is worth around $2.
This is the second 2 million rial note, the first having been issued in 2023.
The note, which the central bank classifies under the term “Iran
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