Iran has put into circulation the largest banknote in history: what is its denomination?

Iran has introduced a new 10 million rial banknote, the largest in the country’s history, amid inflation and a surge in demand for cash amid conflicts with the United States and Israel.

This is reported by the Financial Times .

As noted, the actual value of the new note is about $ 7. It became the largest in circulation after the 5 million riyal note, which was issued in February.

The banknote depicts the 9th-century Jameh Mosque in Yazd, and the reverse depicts the Bam citadel.

According to journalists, there are significant queues at ATMs in the country. Citizens fear failures of electronic systems and prefer to keep their money in cash.

“The new banknote was introduced to ensure the population’s access to cash,” the Central Bank of Iran said.

The regulator also noted that electronic systems, including debit cards, mobile and internet banking, will remain the main platforms for financial transactions.

By the way, in January, amid mass protests in Iran, the national currency plummeted . Over the past year, the Iranian rial has lost about 96 percent of its value and reached a historic low against the US dollar and the euro.

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