According to representatives of the Central Bank, this decision was made to "ensure the population's access to cash" amid growing inflation.
The exchange rate of the Iranian currency strengthened again after the U.S. partially lifted sanctions on Iranian oil, leading to a 6.7% increase in the rial and establishing its value at 1.559 million per dollar. This means that the new banknote is equivalent to approximately $7.
The front side of the new pink banknote features the Jameh Mosque, built in the 9th century in Yazd, while the reverse side depicts the ancient Bam Citadel, which is 2,500 years old. Previously, the largest banknote in Iran was a 5 million rial note introduced in early February.
