KARACHI/LAHORE:The Iranian rial (IRR) which saw a huge jump in open market with the start of Iran war so no further change against PKR as the Iran peace deal was announced.
Currency dealers across Karachi, Quetta, and Lahore indicate that the standard bundle of 1 crore Iranian rials (10 million IRR) is trading between PKR 8,000 and PKR 10,000 and there is no significant change in rate or buyer interest.
This rate is three to four times above the earlier baseline near PKR 2,500, even as the rial shows weakness against major global currencies.
Current Rates (as of June 15, 2026)
Rates vary by dealer, city, and deal volume — always verify with authorized exchange companies for real-time quotes.
Open Market (Informal Cash Market) (Approx. based on PKR 8,000–10,000 for 1 crore / 10 million IRR)
- 1 PKR buys approximately 1,000 Iranian rials
- 10 PKR buys approximately 10,000 Iranian rials
- 1,000 PKR buys approximately 1,000,000 Iranian rials (10 lakh rials)
- 1 crore IRR costs approximately PKR 8,000–10,000
Authentic / Mid-Market Rate (International benchmark / official conversion rate – no local premium) (Approx. 1 PKR ≈ 4,900–4,950 Iranian rials)
- 1 PKR buys approximately 4,945 Iranian rials
- 10 PKR buys approximately 49,450 Iranian rials
- 1,000 PKR buys approximately 4,945,000 Iranian rials (approx. 49.45 lakh rials) (Equivalent: 1 crore IRR ≈ PKR 2,020–2,040)
Impact of the Recent US-Iran Peace Deal Announcement on the Open Market
Fresh hope for Iranian rial in Pakistan has been generated following the news of the peace framework of the US-Iran relations. The open market rate of the rial was widely believed to gain a considerable amount right after the news of ceasefire, re-opening of the Strait of Hormuz and possible removal of the sanctions against the nation reached Pakistan. However, the local cash bundle price remained around the PKR 8,000 to 10,000 mark throughout.
Such sluggish reactions seem to demonstrate an attitude of measured trading of the currency as peace talks are believed to have sustained an already existing speculative interest and demand for the rial in cash among individuals and businesses for petrol, fuel and merchandise traded through the routes of Balochistan.
However, since actual easing of sanctions has not been immediately apparent, the assumed rapid price increase did not really happen, hence, with a persistent high domestic premium against the international market, buying the rial remained lucrative to those speculating a more concrete outcome of the 60-day peace talk period.