The Central Bank of the Islamic Republic of Iran has introduced a new banknote with a denomination of 1,000,000 rials, which corresponds to 100 tomans. Circulation began in June 2026. The banknote is dedicated to the memory of the victims of the tragedy at the Shajareh Tayyibeh elementary school in the city of Minab. On February 28, 2026, on the first day of the military conflict between Iran, Israel, and the USA, an airstrike hit the school. Almost 170 children and other individuals died, predominantly elementary school students aged 7–12. The new banknote honors their memory.
Banknote Design
The banknote measures 156 × 71 mm, is printed on paper, and features a predominantly blue and red color scheme.
Obverse Side:
Text in Farsi, a "168" element as a puzzle-shaped registration device, and an image of the Fatima Masumeh Shrine in Qom. Signature — Farzin. No date is present.
Reverse Side:
Text in English and Farsi, an unknown vignette image, a map of the Persian Gulf and the Strait of Hormuz, an image of doves flying in a classroom of the Shajareh Tayyibeh school with empty desks and a blackboard, and the "168" element.
Security Features
Security features include a 2.5-mm windowed security thread in a golden-green color with the demetallized inscription "I. R. IRAN" and a map outline, a solid security thread with text in Farsi, a watermark in the shape of an arch, and an electrotype "100". Manufacturer: (TAKAB).
The Iranian state broadcaster IRIB reported that the distribution of the new checks will begin in the near future. Due to the significant devaluation of the rial, the denomination of 1,000,000 rials (100 tomans) is worth less than 1 US dollar. This banknote is another example of the issuance of high denominations in response to prolonged inflation and economic challenges in Iran, driven by sanctions and the conflict. Information is based exclusively on open sources, such as BanknoteNews, The New Region, and reports from Iranian state media.
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