Iranian bank branches are facing growing shortages of cash as demand for banknotes rises sharply, prompting informal daily withdrawal caps of 30 million to 50 million rials per customer (about $18 to $30), Iranian media reported.
Didban Iran website said branches in several banks were running out of banknotes on a daily basis, with customers arriving later in the working day sometimes unable to withdraw cash.
The report comes as inflation continues to erode purchasing power, and analysts have long said Iran’s chronic price rises have increased pressure for larger-denomination banknotes.
According to the Central Bank of Iran’s latest data, banknotes and coins held by the public rose by more than 23% in the first eight months of the current Iranian year, which began on March 21, 2025, compared with 0.8% growth over the same period a year earlier.
Iran’s largest widely circulating note is the 2,000,000-rial “Iran cheque” (about $1.22), which has steadily lost value in real terms.
The report added that the maximum daily cash withdrawal from ATMs has recently been set at 3,000,000 rials (about $1.83), a limit that has pushed more customers to visit branches in person to access larger sums.
The Central Bank has not publicly commented on the reported shortages or whether additional currency issuance is planned.
