|ISO 4217 Code||PAR|
|Coins:||1, 2, 5, 10, 25, 50 dinar
|Banknotes:||5, 10, 20, 50 100, 500, 1000, 5000, 10000 rial|
|Minted by:||Central Bank of Parthia|
|Current exchange rate:||1 rial = 1.9607 U.S. dollars|
The Parthian rial (ریال in Persian; ISO 4217 code PAR) is the official currency of the Shahdom of Parthia. The subunit of the rial is the dinar. 100 dinars equal 1 rial. The rial is one of the strongest and most stable currencies in the world, thanks to Parthia's full reserve banking system (which has virtually eliminated the business cycle) and gold standard, which ensures that the currency's value remains stable. As such, inflation is hardly a concern in Parthia. Rials and dinars are minted by the Central Bank of Parthia, and can be readily exchanged for gold at local banks. Most rials bear the image of the current shah, Khosru III, although others bear the image of his predecessors. As of August 2006, one rial is worth almost two U.S. dollars.
Low to mid denomination Rials (R 5-100) are printed on a precise combination of polymers and paper, which helps to lengthen the life of the bills. However, high denomination notes are printed on polymer notes, which ensures a dramatically longer life and safety of the high value notes. All of them are printed with multicolor, color changing ink in precise patterns designed to foil counterfeiters, and have some microscopic printing along the edges, typically "Printed by the Central Bank of Parthia" to make counterfeiting exceptionally difficult. Color change ink patterns are done in an exceptionally complex pattern to ensure that all notes are made far too difficult for even a determined counterfeiter, who possibly had Parthian printing plates, to successfully counterfeit. High denomination notes of R1000 or more also have an added feature of a small RIFD chip under the Shah's portrait which can be scanned and then checked with a database in the Parthian Central Bank, ensuring that any high denomination note passed as a Parthian Rial can be guaranteed genuine.
|1 Dinar||Fire Altar With Two Attendants||Shah Yazdegird III|
|2 Dinars||Fire Altar With Two Attendants||Shah Ardeshir I|
|5 Dinars||Fire Altar With Two Attendants||Shah Shapur II|
|10 Dinars||Fire Altar With Two Attendants||Shah Khosru II|
|25 Dinars||Fire Altar With Two Attendants||Shah Khosru I|
|50 Dinars||Fire Altar With Two Attendants||Shah Shapur I|
|1 Rial||Lion With Sun||Shah Khosru III|
|2 Rials||Lion With Sun||Shah Khosru III|
|5 Rials||Windcatchers of Yazd||Shah Khosru III|
|10 Rials||Mount Damavand||Shah Khosru III|
|20 Rials||Karun River Dam||Shah Khosru III|
|50 Rials||Tomb of Cyrus the Great||Shah Khosru III|
|100 Rials||Niravan Palace||Shah Khosru III|
|500 Rials||Two Winged Bulls||Shah Khosru III|
|1000 Rials||Golestan Palace Pavilion||Shah Khosru III|
|5000 Rials||Golestan Palace||Shah Khosru III|
|10,000 Rials||Persepolis Palace||Shah Khosru III|
The Rial and Economic Policy
Parthia does not utilize fiscal or monetary policy typically found in other nations, though the Central Bank does change the interest rate from time to time, for the most part, stabilizing minor deviations from the economic norm is done via "gold policy," a system designed by Parthian economists as a means of preventing noticeable buisness cycles. The system revolves around changing the value of the Rial by moving an amount of gold from reedemable circulation into vaults, or from vaults into reedemable circulation. When the consumer price index begins to rise (a sign of impending inflation), the Central Bank of Parthia adds gold to the reedemable stockpile, enhancing the value of the Rial and maintaining the buying power of the currency, while also having the side effect of making imported goods cheaper, forcing domestic producers to reduce prices to remain competitive. When the consumer price index drops (a sign of deflation), the Central Bank removes gold from reedemable stockpiles, slightly depreciating the value of the Rial and reducing its buying power, while also making imports more expensive and permitting manufacturers to increase prices.
In the long run, the Gold Policy system maintains the value of the Rial in the range of $1.92-2.02, and essentially zero inflation. Though in the short run, mild inflation and deflation occurs, generally less than .5% in either direction, changes made in gold policy cancel out any long term changes in the purchasing power of the currency. It also means that Rials are an extraordinarily stable store of value even less volatile than gold.
The Rial is often called the currency of choice for money laundering, because the excessivley large size of some of the denominations of some notes (the 10,000 Rial note is worth approxamately $19,000), means that individuals involved in illegal activity in other countries can easily change other currencies into high denomination Rial notes, then import them into Parthia, where no restrictions on the amount of Parthian currency which can be imported exist, to place in secret bank accounts easily accessible anywhere in the world. The Parthian government tacitly encourages this money laundering, since it improves the productivity of the banking industry and brings more wealth into the country.