Currency Crisis Deepens: Iran Unveils 10 Million Rial Note as Inflation Spiral. Iran has introduced a new 10 million rial banknote amid soaring inflation and a depreciating currency, exacerbated by ongoing conflict.

Iran has introduced its highest-ever denomination banknote, a 10 million rial note, as war and economic turmoil push its financial system into deeper distress. The move comes amid soaring inflation and a sharply depreciating currency. The introduction of such a high-value note is seen by analysts as a formal recognition of the rial's loss of purchasing power and a desperate measure to facilitate cash transactions in an economy where prices are rising daily.