The currency used in Iran is the Iranian rial (IRR). The rial has been the official currency since 1932, and despite economic challenges and fluctuations in value, it remains the primary medium of exchange in the country. Due to high inflation rates, the rial has lost significant value over the years, leading to discussions about currency reform, including proposals to replace it with a new currency called the toman. The rial is subdivided into 10 dinars, although the dinar is hardly used in everyday transactions due to its low value.