Pakistan’s open currency market has seen a big rush for the Iranian rial after the recent US-Iran agreement to ease tensions. In just two days, Pakistanis bought around 60 billion Iranian rials as hopes for better trade and possible sanctions relief grew.
According to exchange dealers, demand has increased sharply. The price of 10 million Iranian rials rose by Rs2,000 to Rs3,000 and is now trading between Rs3,500 and Rs4,500 in many places. In some cities like Karachi and Lahore, it has gone even higher in recent weeks due to strong buying.
This surge comes after months of low demand. Traders and investors are buying the rial expecting it to gain more value if the US-Iran deal leads to open borders, easier oil and gas trade, and reduced sanctions. Importers who buy goods from Iran also need rials for payments.
Experts say the interest is driven by both real trade needs and speculation. However, they warn that the rial’s value may remain unstable until a final agreement is signed between Washington and Tehran. Any delay or change in the deal could quickly affect prices.
This development highlights growing economic ties between Pakistan and Iran, especially for Balochistan. While it brings short-term excitement, long-term stability will depend on lasting peace in the region.
