Iran issues banknotes with a face value of 10 million rials

Golden Ten Data reported on March 21 that Tehran is issuing new banknotes with a denomination of 10 million rials (approximately $7), which is the highest denomination ever in the country’s history. Authorities hope this will help control the rapidly rising inflation and meet the demand for cash during the US-Israel war. This week, due to concerns about potential failures in electronic systems, long lines formed in front of ATMs across Iran, and banks began distributing these new banknotes.