The Iranian rial (IRR) remained largely stable in Pakistan’s informal currency market following the announcement of a US-Iran peace framework, with dealers reporting no significant change in trading activity or demand.
Current Trading Levels
Currency dealers in Karachi, Quetta, and Lahore said the standard bundle of 1 crore Iranian rials (10 million IRR) is currently trading between PKR 8,000 and PKR 10,000 in the open market, showing little movement compared to recent levels.
Market Reactions
Market participants noted that while the rial had previously seen sharp fluctuations amid regional tensions, the latest diplomatic developments have not translated into immediate price adjustments. The currency had earlier surged in informal trading to levels significantly above its prior baseline of around PKR 2,500 per bundle.
Dealers added that trading volumes remain limited, with prices varying slightly depending on location and transaction size, while official benchmark rates continue to differ widely from informal cash market valuations.
