10 Rials - Mohammad Rezā Pahlavī

P#54 spans a tight two-year window that ended abruptly with the 1953 coup that ousted Mohammad Mosaddegh and restored full Pahlavī authority. Bank Melli Iran had been operating under severe political pressure during the nationalization crisis, and the note's production — shared between De La Rue and Harrison & Sons — reflects the contingency printing arrangements that became common when Iranian oil revenues collapsed and foreign exchange for contracted work grew uncertain.

Harrison's High Wycombe facility handled the bulk of the physical print run. The De La Rue credit likely relates to earlier plate work inherited by the series.