500.000 Rials

Bank Melli Iran introduced 500,000-rial notes as Iran's high-denomination workhorse during a period when decades of inflation had rendered lower denominations nearly useless for large transactions. By 2000, the rial had lost so much purchasing power since the 1979 revolution that this note, nominally the largest in common circulation, was worth roughly $65 USD at the parallel market rate — less than a tenth of its official exchange value.

The unassigned Pick number reflects how recently this denomination entered cataloging; high-denomination Iranian notes from this period remain incompletely documented in standard Western references.