Currency Exchange Situation in Iran

By May 12, 2018Iran, Media

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🥁 IMPORTANT update on the current CURRENCY EXCHANGE situation

The current situation of currency exchange in Iran is quite catastrophic. To learn more about it, we went to Ferdowsi square and saw for ourselves that no exchange shop is working. There are notes on front doors saying the Central Bank of Iran has forbidden currency operations in the free market. There is police in the neighborhood on the lookout for unofficial dealers. The old banking sanctions are still in place, and money withdrawal for foreign travelers is not an option either. Here are our suggestions for the rightfully confused traveller:

1. Order a debit card online, and don’t worry about carrying loads of cash with you.
Mah Card is the only prepaid debit card available that provides online payment services. The exchange rates are flexible, but in general higher than official bank rates. There is a one-time €19 fee (discounted to €9.99 at the moment) for the card, and your desired amount will be deposited into the card after payment. The card will be delivered at See You in Iran hostel and refunded for the left-out balance at the end of your trip. Mah Card is available through our Booking Platform in the link below. It’s a pretty good option! 🙂
https://seeyouiniran.org/iranian-debit-card-for-travelers/

2. Exchange money at an Iranian bank.
You can exchange your currency for Iranian Rials at the banks in the airport, or selected branches in the city. The rates are quite low (~ 51000 IRR/ 1 EUR) compared to those in the free/black market, but it is a safe and secure choice.

3. Find locals who are in the same boat!
Travelers are not the only ones being affected by this crisis. There are Iranians who are **in need of** foreign currencies as well. You will probably run into some during your trip, but please avoid looking for them in this platform. Try to find those, make a fair deal, and avoid entering the currency black market, negatively affecting the economy of the country.

SEE YOU IN IRAN!