By: Mir M.Hosseini
Rial became the new Iranian currency replacing Gheran on March, 18, 1930.
First Iranian coins date back to 564 B.C when the Achaemenid king Cyrus The Great started issuing coins in Sardes. Dariush The Great issued Daric (gold coin) and Shekel (silver coin) around 516 B.C. which were used all over the empire. The idea of a unique Iranian currency was revived by Shah Abbas issued Abbasi coins used all around the Safavid realm. Shahi was also used as a smaller unit.
Rial had been known as an international currency since 1798 with a value of 1250 Dinars. It was replaced with Gheran with a value of 1000 Dinars in 1826 on the 30th year of Fathali Shah's reign.
Because of it's small value, Iranian people gradually stared using unofficial Toman (10 Rials) instead of Rial in their money transactions. Today, because of high devaluation Iranians practically use one Toman refrring to 10,000 and sometimes 10,000,000 Rials.