Iran to release banknote worth 200,000 rials

The Iranian Central Bank will publish a banknote worth 200,000 rials (about $16.3) before the end of the year (March 21, 2014), spokesman of the bank Majid Sanei says.

The Central Bank plans release of banknotes worth 500,000 and 1 million rials.

Western sanctions against petroleum exports and banking caused 30% inflation in Iran last year.