Iranian rial rate rises after US peace deal announcement
- By Fahad Ali -
- Jun 17, 2026
Iranian rial (IRR) has appreciated by more than 15% in the last week following the announcement of an agreement between Tehran and Washington to put a stop to their feud and resolve disagreements through dialogue.
Due to prospects of reduced geopolitical tensions and a revitalized diplomatic process, the accord has improved mood in Iranian financial markets. The US dollar dropped to as low as 1.52 million Iranian rials on Wednesday after trading close to 1.81 million rials last week, according to statistics from pashizi, which monitors Iran’s free foreign exchange market.
Although the Iranian rial is the official currency of Iran, free market exchange rates are usually expressed in tomans. 152,000 tomans are equal to 1.52 million rials because one toman is worth ten rials.
The US dollar climbed to around 1.93 million rials in March after US and Israeli attacks began on Feb. 28, reaching record highs and accelerating the depreciation of the Iranian currency.
IRR to PKR
The dual-exchange system of the Iranian rial (IRR) is reflected in the rate at which the Pakistani rupee (PKR) is traded. One million Iranian rials are worth about 7–8 Pakistani rupees on the open market, where one Iranian rial is worth about 0.07–0.08 PKR. One crore Iranian rial, however, is selling for between 9000 and 9500 PKR on the open market.
Currency dealers and market experts, however, express caution as IRR may not see a definite rise even if the war ends leading to hoarders and general buyers, investors seeing huge losses.