Travelers in Iran commonly compare licensed exchange offices (sarafi) with banks when exchanging foreign currency. Exchange offices in major cities such as Tehran, Isfahan, Shiraz, and Mashhad may provide different rates, so it is useful to compare the final amount offered rather than choosing the first available counter.
Licensed Exchange Offices
Licensed exchange offices are often used for foreign-currency transactions and may handle currencies such as US dollars, euros, and other widely traded currencies.
Before exchanging money, check:
- The displayed buying rate for your currency
- Whether the quoted rate applies to your exact amount
- Any commission or service charge
- The final amount of Iranian rials you will receive
- Whether you receive a transaction receipt
Avoid unofficial street exchanges, even when someone offers a seemingly attractive rate. Using a properly licensed business provides greater transparency and reduces the risk of counterfeit currency or other problems.
Banks
Banks can also provide currency-exchange services, although availability and applicable rates can differ between banks and locations. Travelers should ask for the actual rate and total amount received before completing the transaction.
Comparing the Rates
Do not compare only the headline exchange rate. For example, if you want to exchange USD 500, ask each provider:
- How many rials will I receive?
- Is there a commission?
- Are there any additional charges?
- Is this the rate for buying my foreign currency?
- Will the final amount differ from the displayed rate?
The best comparison is the net amount received after all charges.
Other Things to Check
Travelers should also consider:
- Whether the exchange office is licensed
- Whether the rate is clearly displayed
- Whether the transaction is documented
- Whether the provider gives a receipt
- Whether the notes received can be verified
- Whether exchange rules or documentation requirements apply
Conclusion
Travelers should compare licensed exchange offices and banks in the same area rather than relying on a single quoted rate. Exchange rates can vary by provider and location, while commissions and other charges can reduce the actual amount received. The most useful comparison is therefore the final amount of Iranian rials received for the same foreign-currency amount, after all fees and charges are included.