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1 000 000 Rials
| Issuer | Central Bank of the Islamic Republic of Iran |
|---|---|
| Year | 2008 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | ۱٫۰۰۰٫۰۰۰ بانک مرکزی جمهوری اسلامی ایران ایران چک یک میلیون ریال (Translation: 1,000,000 Central Bank of the Islamic Republic of Iran Iran Cheque One Million Rials) |
| Reverse description | Log in to see details |
| Reverse lettering | CENTRAL BANK OF THE ISLAMIC REPUBLIC OF IRAN IRAN CHEQUE 1000000 ONE MILLION RIALS |
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| Comments |
Iran introduced million-rial denominations not as a sign of hyperinflation by international standards, but as a practical response to years of accumulated currency erosion — by 2008, the rial had lost so much ground against the dollar that even routine transactions required unwieldy bundles of lower-denomination notes. The million-rial note was a belated acknowledgment of that arithmetic.
The print run of just over 12 million is modest for a high-denomination note in a country of Iran's population, suggesting limited initial rollout rather than emergency printing. Watermark-only security for a note at this face value reflects the period's constrained access to advanced Western printing technology, a direct consequence of sanctions limiting procurement from major security printers.