Overview
- The 10 million rial bill, worth about $7, has begun circulating with long queues at ATMs and reports of machines running dry.
- The launch follows a 5 million rial note issued just weeks ago, underscoring the accelerating slide in the currency.
- Officials say the step is to ensure public access to cash even as digital payments remain a policy priority.
- The rial trades near 1.6 million per US dollar, with soaring prices leaving basic goods increasingly unaffordable and food costs roughly doubling over the past year.
- Conflict involving the United States and Israel, including strikes on sites such as Natanz, has deepened uncertainty, while earlier crackdowns and internet shutdowns strained small entrepreneurs.