IRR (Iranian Rial)

DEFINITION of 'IRR (Iranian Rial)'

The currency abbreviation or currency symbol for the Iranian rial (IRR), the currency for Iran. The rial is made up of 100 dinar, and actually has no official symbol. The keyboard position U+FDFC denotes the currency when using the Unicode Standard. The rial is also quoted in a superunit of 10 known as the toman.

BREAKING DOWN 'IRR (Iranian Rial)'

The rial was first seen in 1798 in coin form, but was replaced by the quiran in 1825. It was instituted again in 1932, and for decades the highest value note printed was the 10,000 rial bill. 20,000 rial bills began circulation in 2003, followed by 50,000 rial bills in 2007.