I already mentioned in my previous post that Iranian Rial has several exchange rates and that official is almost half of the so called grey market rate. Besides currently Iranian Rial is going through serious inflation and rates against other currencies are changing rapidly.
Due to some mistakes made by us i have decided to share tips on how and where to exchange currency (in places we have visited).
Besides the Iranian Rial is going through a sharp hyperinflation. During last two weeks the USD went from 25 000 to 36 000 (as of 16.10.2012).
Currency rates for 16 October 2012 in Shiraz:
- USD = 36 2000 Rials
- EUR = 45 000 Rials
- GBP = 54 000 Rials
UPDATE: rates for 17 October 2012 in Shiraz:
- USD = 37 2000 Rials
- EUR = 48 000 Rials
- GBP = 55 500 Rials
UPDATE: rates for 20 October 2012 in Isfahan:
- USD = 34 2000 Rials
- EUR =
- GBP = 50 000 Rials – 55 000 Rials
- Always ask around from several people and exchange points for rates to choose the best one as they will give you different
- If you get 500 000 bills it is better to check them for banknote protection signs. Every exchange office has ultraviolet light machine
- If you exchange in a street, you may be asked to pay commission, insist on the full amount (i always refused to do so, and got the rate that was offered)
- Don’t exchange too much, as the rate is changing very fast
- If you go to smaller towns or villages, make sure you have enough money as you may have difficulties to find an exchange office or people to exchange, plus you will get lower rates
- Note that other exchange office than mentioned below (like jewelry shops, etc) usually have lower rates
Where to exchange
In Tehran you need to go to Ferdowsi street. Don’t go to Ferdowsi square – people there offer lower rates and tend to cheat. Go to Ferdowsi – Jomhouri crossroad and walk in the direction of the Jewelry museum.
View Tehran, currency exchange in a larger map
In Tabriz you need to go to the Northern top of Ferdosi street, cross Bazar street to Shahid madani. There in the streets people will offer you exchange. The place was recommended by the Tourist Information office.
View Tabriz, currency exchange in a larger map
In Yazd the best rates are offered by the exchange office right across from the Zoroastrian Fire temple. You can easily go there by taxi for 15 000 Rials/ one way.
View Yazd, currency exchange in a larger map
In Shiraz the exchange offices are located not far from Shohada sq, and Kamir khan castle.
View Shiraz, currency exchange in a larger map
In Isfahan there are two areas with exchange offices: Hakim Nezami, in Jolfa, the Armenian quarter, and Sepah street, right next to the Emam square. The latter (closer to Emam sq.) seems to have better rates besides being right in the center.
Note that they display rates lower than actually they exchange. So ask for rates.
View Isfahan, exchange points in a larger map
If you know good places to exchange money in other cities of Iran please share.