What is the Exchange Rate for the Iranian Rial to the US Dollar?

What Is The Iranian Rials Exchange Rate?

The official exchange rate of the Iranian Rial to the US Dollar is 0.000033. What that means is that 1 Iranian Rial is worth 0.000033 of a single US Dollar.

With the Iranian Rial most buyers are probably used to hearing the rate quoted in price per million. At the offical exchange rate of 0.000033, a million Iranian Rials would cost a buyer $33.13.

With that said, the current going price by most currency brokers and dealers as well as on eBay and other sites is anywhere from $120 to $300 per million, quite a markup.

Now it goes without saying "exotic" currencies tend to have a higher markup. Some currencies like the Costa Rican Colone for example are very difficult to acquire and even on the wholesale markets can cost large companies upwards of 17% to buy even when buying in bulk. More common currencies like the Euro for example can often be had for about a tenth of a percent.

As you can see the Iranian Rial is being sold at quite a hefty markup. As with anything however, the market determines price and even eBay listings which start at 0.99 cents tend to wind up selling for about $100 or more so that shows us it's not just the currency brokers price gouging, the market is actually willing to pay that price.

It will be interesting to see what the future holds for the Iranian Rial. Will it explode in value, will it slowly go up in value? Will the country dramatically change and roll out a new currency? Only time will tell.