10 000 Rials

The P#107 10,000 Rial note represents the highest denomination issued under the Imperial Iranian series printed by De La Rue for Bank Markazi during the final years of the Pahlavi monarchy. Notes from this series were still in active circulation when the 1979 revolution brought down Mohammad Reza Shah, and the new Islamic Republic initially continued using existing stocks rather than immediately replacing them — overprinting some issues with revolutionary slogans while others simply remained in use unchanged.

De La Rue's work for Iran across this period was extensive, and the security watermark on this denomination was deliberately complex given the note's high face value at the time of issue.