Iranian rial selling like hotcake after peace deal announcement; check rate today
- By Fahad Ali -
- Jun 20, 2026
The Iranian rial (IRR) is still being sold like a hotcake in Pakistan’s open market as of Saturday afterr the recent announcement of the US-Iran peace deal.
Currency dealers in major cities like Karachi, Quetta, and Lahore confirm that the standard bundle of 1 crore Iranian rials (10 million IRR) continues to trade in the PKR 8,000 to PKR 10,000 range in the open cash market. This is still significantly higher than the earlier baseline around PKR 2,500 per crore.
Current Rates as of June 20, 2026
Rates can vary based on dealer, location, and transaction size. Always check with licensed exchange companies for the latest figures.
Open Market Rate
(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 (Sources: Wise, Xe)
(International benchmark / official conversion rate – no local premium)
(Approx. 1 PKR ≈ 4,940-4,950 Iranian rials)
– 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
(Equivalent: 1 crore IRR = PKR 2,020-2,040)
Iranian rial to US Dollar
According to reliable international sources (Wise and global benchmarks):
– 1 USD = 42,000 Iranian rial (official/mid-market rate).
In Iran’s domestic free market, the rate is much weaker, around 1.6 million IRR per USD, reflecting ongoing economic conditions despite diplomatic progress.
The US-Iran peace framework has brought some optimism into the market, yet the local premium in Pakistan has stayed relatively stable. Traders are watching developments closely for potential sanctions relief, which could impact future movements.
Why the Iranian rial remains in demand
The significant difference between Pakistan’s open market premium and global rates, along with the needs for cross-border trade (fuel and goods through Balochistan), continues to drive buying activity. Investors are preparing for possible long-term advantages from the peace process.