IRAN’S ECONOMY HAS CRASHED SEVERELY-Yesterday their reserve bank introduced a new bank note,10 million Rials which is equivalent to only 7 USD
The Central Bank of Iran has introduced a new, record-high denomination banknote, the 10 million rial note: often referred to as a “one-million-toman” Iran-Chek, as of March 2026.
This is the highest-value note in Iran’s history.
The launch is an emergency measure to address severe cash shortages, high inflation (exceeding 60%), and to provide physical currency during banking pressures related to ongoing conflicts.
Despite its high denomination, the note is worth roughly only $7 USD. It was introduced just weeks after the 5 million rial note was issued in February 2026, highlighting the rapid devaluation of the currency.
This new banknote is being released as citizens are rushing to ATMs and banks to withdraw cash, leading to long queues and reports of cash shortages at banks
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