5.000.000 Rials

Bank Melli Iran's five-million rial note belongs to the post-revolutionary series that quietly acknowledged a problem no official statement ever addressed directly: decades of inflation had so eroded the rial's purchasing power that denominations once considered extraordinary had become routine pocket change. Iran has periodically discussed redenomination — dropping four zeros and returning to the toman as the official unit — but as of this note's issue the debate had not produced legislation, leaving the central bank to simply print higher figures on the same basic format.

The "P#0" reference indicates this note hasn't been formally catalogued in the Pick system, which is not unusual for very high Iranian denominations issued after the major catalogues' data cutoffs.