Iranian rial remains in demand in Pakistan; check rate against PKR and USD

KARACHI/LAHORE: Despite a suspension of Iran ceasefire and attacks from both Iran and US, Iranian rial (IRR) is still being bought by traders and common buyers in Pakistan in hope of a future boost.

The Central Bank of Iran (CBI)’s latest official exchange rates for July 9, 2026 shows that the  value of 45 currencies rose against the Iranian rial while only one declined compared to July 8.

The official IRR rate for 1 US Dollar now stands at 1,341,931 Iranian Rials, up from 1,325,744 rials. One Euro is valued at 1,529,177 rials, higher than 1,514,385 rials on July 8. For 100 Pakistani Rupees, the rate is 482,752 Iranian rials, increased from 476,907 rials.

In the black market, the US Dollar is trading in the range of 1.8 to 1.83 million Iranian Rials, with the Euro between 2.05 and 2.08 million rials.

In Pakistan’s open market, a 1 crore Iranian rial packet is still changing hands for Rs7500 or 8000 PKR, depending on whether you are buying it in Quetta or other urban centers.

The current wave of buying on the country is fuelled by speculation that peace with the global powers might invigorate Pakistan’s economy, increase the foreign currency inflow, and boost rial.

Even though such an scenario offers benefits for the buyers entering on an early note, experts caution against the uncertainty as anything in this regard could turn for worst as a swift turnaround might prove costly.