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500.000 Rials
| Issuer | Central Bank of the Islamic Republic of Iran |
|---|---|
| Year | 2025 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Rectangular |
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| Obverse description | Trial impression with minimal printed content; the face of this Iran Cheque issue appears to carry the primary security and identification elements in a largely unfinished or test state, consistent with a trial production piece submitted for approval prior to full issue. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | Log in to see details |
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| Protection type | Log in to see details |
| Protection description | Embedded security thread visible on the note; colour-shifting numeral element in the denomination area at upper right. |
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| Comments |
Iran's rial had depreciated so severely by the early 2020s that a 500,000-rial note — once unthinkable — became a practical necessity for everyday transactions. The currency had lost roughly 60% of its value between 2018 and 2021 alone, driven by compounding sanctions and domestic inflation running well above 40% annually. Issuing high-denomination notes was the Central Bank's operational response to a cash economy that had simply outrun its existing note range.
P#164A sits at the top of the rial series as currently catalogued. The colour-shifting ink is a relatively recent security upgrade for Iranian issues, reflecting pressure to deter increasingly sophisticated counterfeiting of high-value denominations.