Iran Introduces New 10 Million Rial Banknote Amid Inflation and Cash Demand
The new 10 million rial note comes as war-driven inflation and fears of payment system disruptions reportedly push people in Iran toward holding more physical cash.
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Terms & Concepts
Inflation: A sustained rise in prices that reduces the purchasing power of a currency over time.
Fiat currency: Government-issued money that is not backed by a physical commodity such as gold.
Cash demand: An increase in public preference for physical banknotes, often during periods of financial stress or payment system uncertainty.