Changing Iranian currency into Euros - cheaper in Europe or in Iran?
Let's assume I have 100 million Iranian rials in cash. This is very roughly equivalent to something like 1000 Euros. I am in Iran and am traveling to Europe soon. Am I likely to get a better deal if I change my rials into euros in Iran or in Europe?
Best Answer
This post is relatively old and probably you've already exchanged your money but anyway, I'll add more points to what Martin already said, for future travellers:
Where to exchange:
I recommend to exchange your money inside Iran, but in certified exchange offices and not in the banks.
Currency in Iran has been always complicated, and lately, it's got even worse with all the sanctions, and its value being so unstable! As a result, there are plenty of exchange rates (official, merchant, traveller, free market, etc). Banks, usually work with the official rate which is currently around one-third of the free market. They might buy your Euros based on a different rate which is close to that in free market but still less.
Airport regulations for currencies:
You can take up to 10 thousand Dollars (or equivalent) to Iran without any need for declarations [source].
The limit for going abroad is around 5 thousand Euros (or equivalent) and/or 5M IRR (right now equivalent to ~40 Euros) [source].
If you are curious and want to know more, I suggest watching this video by Nick (Indigo Traveller). In his video, he explains the complexity of the Iranian currency and some of the best practices on how to manage that as a foreigner.
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How much is Iranian toman in euro?
Quick Conversions from Iranian Rial to Euro : 1 IRR = 0.00002 EURIRREUR\ufdfc 10,000\u20ac 0.22\ufdfc 50,000\u20ac 1.11\ufdfc 100,000\u20ac 2.21\ufdfc 500,000\u20ac 11.0710 more rowsWhere can I exchange Iranian money?
Dollar, Euro and Pound can be exchanged to Rial in Iran easily in Banks and Exchange offices, called Sarafi. This offices have trained employees ready to be at your service, they are experienced and pretty trustful, and the best thing about currency exchange shops in Iran is that they do fast exchanging!Why the value of Iranian rial is so low?
Hard currency earned from oil exports finances more than half of Iran's budget and the three years of sanctions have depleted Tehran's currency reserves. Iranian officials have so far remained silent on the fall of the rial, as Raisi's ministers on Wednesday received their vote of confidence from parliament.Is Euro accepted in Iran?
What type of cash is acceptable? It is not important; USA dollars; Euro; GBP are all accepted in Iran . You should change your money in a money exchange shop and they are all over Iran so you will have no problem finding one.Convert Dollar to Iranian Rial | Dollar Rate in Iran Currency | US Dollar Rate in Iran |usd to Riyal
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