The unit of Iranian currency is The Rial. The currencies of Iran are issued in the form of banknotes and coins.
According to The Monetary and Banking Act of Iran(MBAI),The government is the sole authority having the right of issuing notes and coins and this right is hereby vested exclusively in Bank Markazi Iran(Central Bank of The Islamic Republic of Iran) subject to the provisions of this Act.
Before 1959,Bank Melli Iran had the tasks of central bank such as exclusively the right of issuing notes and managing cash circulation. In 1959,after approving Monetary and Banking Law and at the time establishment of central bank in 1960 these tasks were vested exclusively in Central Bank of Iran.