KARACHI/TEHRAN — The Central Bank of Iran (CBI) announced its official foreign exchange rates, revealing a broad depreciation of the Iranian Rial (IRR) as 44 major global currencies registered an appreciation against the national currency. According to the official calculations, the government-set price for the U.S. Dollar climbed to 1,414,300 Iranian rials, up from 1,404,259 two days prior. Similarly, the official rate for 100 Pakistani Rupees rose to 509,182 rials from 505,454, while the Euro moved upward to 1,610,084 rials. Within Iran’s regulated SANA system—which dictates official rates for retail exchange offices—the U.S. Dollar stood at 1,514,675 rials and the Euro at 1,724,354 rials.
Meanwhile, the free market continues to operate at a significantly more elevated premium, serving as the primary benchmark for private citizen and corporate transactions. In the open market, the U.S. Dollar traded in a higher range between 1.92 and 1.95 million rials. Conversely, in Pakistan’s domestic open currency market, the value of 1 Crore (10 million) Iranian Rials has experienced a sharp correction, changing hands at approximately Rs4,500 to Rs5,000—a massive decline from the Rs8,000 to Rs9,000 range recorded last month. Despite the current downward trajectory of the rial, Pakistani currency dealers and cross-border households maintain a steady interest in the IRR, driven by speculative expectations that potential diplomatic breakthroughs and regional de-escalation could eventually stabilize and revive Iran’s national currency.
