ISLAMABAD – Iranian Rial swept across Pakistan, with an estimated 3 trillion Iranian Rials purchased within just five days amid improving relations between Iran and the US.
Market participants said the renewed optimism surrounding Iran’s economic outlook has triggered unprecedented rush among Pakistani buyers, particularly from the middle-income segment, who are betting on further appreciation in the Iranian currency.
The buying and selling of Iranian rials remains legal in Pakistan and witnessed a sharp increase in recent days. He revealed that the value of the rial has effectively doubled in a matter of days, with exchange rates rising by nearly 100 percent after the latest developments in Iran-U.S. ties.
“The public perception is that if diplomatic progress continues, the Iranian rial could gain even more value,” Bostan said, while cautioning investors against making decisions based solely on speculation.
The rally already delivered remarkable gains. Currency bundles that previously allowed buyers to obtain 10 million Iranian rials for around Rs2,000 are now costing nearly Rs4,000, reflecting the rapid appreciation in market value.
Exchange dealers report that rial prices vary across Pakistan due to local demand and supply dynamics. While Karachi remains a major trading hub, rates are reportedly higher in smaller cities and remote regions where supply is more limited.
Data shared by the Exchange Companies Association indicates that individuals can legally purchase up to Rs275,000 worth of Iranian rials per month, while nearly 60 percent of current buyers are investing amounts of up to Rs100,000.
Analysts said the latest buying spree highlights how quickly currency markets can react to geopolitical developments. However, experts warn that despite recent gains, the Iranian rial remains highly sensitive to international sanctions, regional politics, and economic policy shifts.
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