Iran is to issue a new high- denomination banknote marking the country's achievements in nuclear technology at a time of mounting tension with the West over its atomic program, local daily Kayhan International reported on Sunday.

The new 50,000-rial banknote, worth about 5.4 U.S. dollars at current exchange rate, shows a picture of the standard nuclear insignia of electrons in orbit around an atom, the daily said.

Beside the atomic sign is a calligraphic quotation of the Prophet Mohammed, "If the science exists in this constellation, men from Persia will reach it."

On the front of the banknote is a picture of the Islamic Republic's founder, the late Iranian Supreme Leader Ayatollah Ruhollah Khomeini, whom according to the law must be on all Iranian currency.

Jalal Jalilian, head of printing at Iran's central bank, said the new banknote would be circulated on March 12, ahead of the Iranian new year which commences on March 21.

"In the first phase 6 million bills will be printed and before the end of the year another 6 million notes will be printed. Its printing will continue next year too," Jalilian was quoted as saying.

The 50,000-rial banknote is the first new bill issued since February 2004 when Iran's central bank introduced a 20,000-rial bill.

Iran has defied UN demands for a suspension of its sensitive nuclear activities and instead has pressed on with its atomic program as a source of national pride.

Source: Xinhua