As the Iran war rages, Tehran has rolled out a new 10 million rial banknote, its highest-ever denomination, as authorities seek to “manage” soaring inflation and meet demand for hard cash… but mostly to “manage” soaring inflation, similar to how Venezuela would add a new 0 to its currency every week in the late days of the Maduro ergime before everyone simply gave up.  Banks, which have been targeted on at least one occasion by Western strikes, began distributing the new note this week, which is worth about $7, as Iranians waited in long lines at cashpoints to withdraw currency over fears electronic systems could fail. Many quickly ran out. The new pink banknote features a vignette of the 9th-century Jameh Mosque of Yazd, while the back displays an image of the 2,500-year-old Bam Citadel. It is now the highest denomination in circulation, overtaking the 5mn-rial note introduced in early February, which at this rate will be equal to roughly $1 USD in a few weeks. Iran’s central bank said that the bill was introduced “to ensure public access to cash”, adding that electronic systems – including debit cards, mobile and internet banking – would continue to serve as the […]