Iran issues new ten-million-rial banknote
Photo: Vahid Salemi/AP/TT

Iran issues new ten-million-rial banknote amid rising inflation

Rising inflation means Iran is now launching a new ten-million-rial banknote, the country's highest-ever denomination, reports the Financial Times.

The banknote, which is worth the equivalent of almost 70 Swedish kronor, is intended to help simplify matters for the country's residents, as cash withdrawals have increased sharply amid fears that electronic systems will stop functioning during the war.

Iran previously had a five million rial note as its highest denomination. The Iranian currency has depreciated sharply, while the country's inflation rate reached 47.5 percent on an annual basis at the latest measurement.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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