ISLAMABAD – Despite another round of military tensions between Iran and US, the Iranian rial continues to attract buyers in Pakistan, with trading remaining active in the open currency market and the currency showing signs of resilience.
The latest US strikes and Iran’s retaliatory actions in Hormuz heightened uncertainty across the region. However, instead of discouraging investors, the geopolitical turmoil has fueled speculation that the Iranian rial could recover significantly in the future, prompting Pakistani buyers to continue purchasing the currency.
According to Central Bank of Iran’s exchange rates issued on July 14, 2026, the official value of the U.S. dollar hovered at 1,359,712 Iranian rials, up slightly from 1,358,323 rials a day earlier. The official euro rate eased marginally to 1,550,497 Iranian rials.
In Pakistan’s open currency market, 10 million Iranian rials are currently trading between Rs6,000 and Rs7,000, while Rs100 can fetch approximately 489,083 Iranian rials, showing depreciation of Iran’s currency over recent years.
However, prices in Iran’s open (black) market remain significantly higher. US dollar is trading between 1.81 million and 1.84 million Iranian rials, while the euro ranges from 2.06 million to 2.09 million Iranian rials, underscoring the persistent gap between official and market-driven exchange rates.
There is widening disparity between official and open-market exchange rates to international sanctions on Iran, prolonged geopolitical tensions, economic uncertainty, and restrictions on global trade. These factors continue to distort the country’s foreign exchange market and weaken investor confidence. At current market levels, one Iranian rial is worth approximately PKR 0.000202, while one Pakistani rupee equals roughly 4,950 to 4,956 Iranian rials.
Currency dealers have advised investors to verify the latest market rates before making any buying or selling decisions, noting that open-market foreign exchange prices can change rapidly from one day to the next.
