The Rial is the official currency of Iran however the Toman is more common in Iran. Most of the prices in hotels, restaurants, shops and elsewhere are told in Toman. The banking system work with the Rial. Am I mixed up? Remember that Rial is the Toman plus one zero. To have the price in Rial, add one zero to the amount in Toman. You can take US Dollars, Euros and British Pound with you to the local exchange offices to exchange them into the Rial.
Exchange Offices
There are official money exchange offices in big cities of Iran such as Tehran, Shiraz, Isfahan, Tabriz, and Mashhad. They are called “Sarrafi” where you can exchange your money and simultaneously see the current exchange rate on the monitors.
The exchange rates are always in flux so for correctly converting Iranian Rial or Toman to other currencies you need to check the latest updates. Do not exchange currency on the street, and keep your exchange receipts.
Credit and Debit Cards in Iran
Due to the American sanctions, Iran does not have access to the international banking system. This means that international credit cards such as Visa and MasterCard are useless in Iran. The international online payments systems such as PayPal and Worldpay are also unavailable in Iran. Most of the Iranian citizens have their national debit cards, which can be used in all business transactions instead of cash.
Iranian Pre-Paid Debit Card for Foreign Tourists
There is a pre-paid debit card which is designed for the tourist traveling to Iran. It is an equivalent of International credit/debit cards(i.e., Visa or MasterCard) which is safer than carrying cash. This debit card is accepted at any ATMs, Websites and almost every Iranian sales system. You can order the Iranian pre-paid debit card here.
Of course, Shops, public transportation, hotels, and restaurants will accept cash; therefore, if you don’t order Iranian pre-paid debit card, then you need to carry enough money to Iran and exchange them into the Rial.