MONEY MATTERS

CURRENCY:
For currency restrictions, see CUSTOMS AND ENTRY REGULATIONS. The monetary unit in Iran is the Iranian Rial, internationally abbreviated into RI or Ris. There are 100 "dinars" to the Rial. 1, 2, 5, 10, 20, 50, 100, and 250-Rial silver alloy coins are in circulation as well as bank notes for a value of 100, 200, 500, 1000, 2000, 5000, and 10 000 Rials. The value of the coins is indicated in Persian figures, the bank notes have the figures printed on one side in Persian and on the other in Latin numerals. In their daily dealings, Iranians use and old currency unit called tuman, worth 10 Rials.
In compliance with new currency policies and for the convenience of the foreigners, hotel and travel tour rates and the price of carpets are expressed in US dollars.

BANK AND CURRENCY-EXCHANGE OFFICES:
Banks are plentiful and are to be found everywhere, even in very small towns. They are easily recognizable because of their large facades. But only a certain number change foreign currency. Exchange counters are usually open between 8 a.m. and 4 p.m. and at the airport for the arrival of international flights. You can also change your money, at the free-market rate, in large hotels which may even accept travellers; cheques. Beware of fly-by-night changers in bazaars although they may offer you a more advantageous rate than the official rate.
Some currency exchange offices operate on Fridays as well. The fairest exchange rates are offered by the banking system. Always take your passport along when you go to change money. Note that small towns do not always have foreign currency exchange offices or banks.