The price of Iranian rial bundles in Pakistan’s open market remained largely unchanged despite reports of a preliminary peace agreement involving Iran.
Currency dealers in Karachi and other major cities said a standard bundle of 1 crore Iranian rials (10 million IRR) continued trading between Rs8,000 and Rs10,000, showing no major immediate reaction to the latest diplomatic developments.
Market experts believe traders are waiting for clearer details and official confirmation regarding the agreement before making significant moves in the currency market. Demand for Iranian rial in Pakistan has remained strong in recent months due to cross-border trade and speculative buying.
Analysts also noted that while global oil prices showed signs of decline following news of the possible US-Iran understanding, the informal cash market for Iranian rial in Pakistan has so far stayed stable.
