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1.000.000 Rials
| Issuer | Central Bank of the Islamic Republic of Iran |
|---|---|
| Year | 2020 |
| Type | Vouchers |
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|---|---|
| Obverse lettering | بانک مرکزی جمهوری اسلامی ایران یک میلیون ریال ایران چک |
| Reverse description | The reverse is rendered in blue tones with a central vignette of an oil refinery complex, its industrial towers and piping depicted in precise linework against a mountain backdrop with guilloche underprint. The English legends 'CENTRAL BANK OF THE ISLAMIC REPUBLIC OF IRAN' and 'IRAN CHEQUE' appear at upper left in blue and red respectively, with 'ONE MILLION RIALS' at upper right. The denomination numeral '100' appears at lower right in olive-yellow color-shifting ink, with additional Persian text across the lower margin. |
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| Comments |
Iran's million-rial note arrived at a moment when the denomination said everything about the state of the currency. Decades of sanctions-driven inflation had so eroded purchasing power that by 2020 a million rials was worth roughly twenty-five US dollars — a mundane sum requiring the highest-denomination note in the country's history. The government had already legislated a redenomination, renaming the unit the "toman" at a ratio of 10,000 rials to one, but implementation lagged well behind the physical currency being printed.
The relatively sparse security suite — color-shifting ink and a serial number — reflects the practical ceiling on what Iranian printers could source under import restrictions.