100.000 Rials

The 100,000 Rial denomination's practical value had been so gutted by decades of inflation that by the time this series entered circulation, it was worth roughly two US dollars at the official rate — less on the open market. Iran's persistent dual exchange-rate system meant that any printed face value was essentially an abstraction. The Central Bank periodically issued higher denominations as stopgaps rather than pursuing a redenomination, a politically sensitive step the government repeatedly deferred.

Printed domestically, the note reflects Iran's long-standing policy of internalizing currency production after sanctions severely limited access to foreign printing houses and specialist security paper suppliers.