1 Toman / 10 000 Rials

The denomination itself encodes a political argument. Iran's parliament approved the redenomination in 2020 after decades of inflation had rendered the rial essentially uncountable in daily transactions — prices in the millions had become routine. The new unit, the toman, was never formally abandoned by the public even when the rial remained official currency; Iranians had been mentally dividing by ten for generations. This note simply catches the printed currency up to how people had actually been reckoning money for forty years.

Hemmati served as Central Bank governor during a period of severe US sanctions pressure, and his signature here places this issue squarely in that turbulent period of currency management under external constraint.