If you have the plan to travel to Iran, I recommend you to get familiar with Iran’s currency, which is officially Rial, now. However, locals use Toman instead, since it has zero less than Rial. It means if a ticket costs you 12000Rials you can easily say it 1200 in Toman.
Exchanging money is not that much easy. Because not only does the exchange rate fluctuate more than 10 percent monthly but also there are several rates available at the same time. If you check the rate on the Internet, Google shows 42105 Rial for each USD, which you may find around 110000 Rials on other websites. There’s another rate which is called a Subsidized rate that is between the other two rates.
What is the use of these three rates? The first one is the official CBI (central bank of Iran) rate which is used for basic goods like food and drugs, the second one is called the “Free-market” rate which is the best rate for tourists, and the third one is for companies that import medicine, cars, etc. Some hotels may exchange your money with the subsidized rate that is not fair, but in case of emergency, it is better than the official CBI rate.
In addition, there is a limitation for Iran citizens to buy foreign currency annually, so if you face people who ask you to buy your Dollar or Euro don’t get shocked.
As I mentioned above exchanging a single Dollar leads you up to 110000 Rials and imagine exchanging a hundred dollar can lead you to such a huge amount of banknotes. How does it feel if you had to carry a bag during your trip to Iran, for your money only? Being a millionaire is not always a pleasure. Iranian people themselves do not use cash as much as they did before, and local bank cards made payments much easier.
Moreover, after 1980s there is no connection between Iran and the international banking system, so your MasterCard and Visa card or any other international cards are useless in Iran.
Daric is the first Iranian golden coin, and that is why DaricPay chose it as its brand name, this local travel card worth as a golden coin for tourists in Iran.
With DaricPay Travel Card you can exchange your money with the best rate (free-market rate), carry your money in a single card and spend money just like locals. By registering for a card you are also able to use the application which has features such as checking the exchange rate online, seeing all your transactions, your current account balance online and the approximate amount in your preferred currency. On top of all that, using ATMs and POS machines is free of charge with DaricPay Travel Card and you have access to a 24/7 support for your needs during your Iran visit, it’s called your DaricPal.
If you are not going to visit Iran very soon but interested in the free-market exchange rate you can send an email to email@example.com and receive exchange rates of the day.
Check out Daricpay website: https://daricpay.com