Iranian Rial Remains Under Pressure as Dollar Surpasses 2.6 Million Rials in Open Market

ISLAMABAD: Iran’s currency, the Iranian rial, continues to face downward pressure, with a significant gap emerging between official and open-market exchange rates against the US dollar.

According to figures released on October 17, 2026, the official rate published by Iran’s central bank valued one US dollar at 1,816,419 Iranian rials. In the open market, however, the dollar was reportedly trading at approximately 2.65 million to 2.68 million rials.

According to the official exchange rate issued by Iran’s central bank, 100 Pakistani rupees were equivalent to approximately 656,134 Iranian rials, putting the value of one Pakistani rupee at around 6,561 Iranian rials. However, this is an official rate, and actual buying and selling rates in Pakistan may vary.

Meanwhile, Iran continues to face economic challenges, including international sanctions and rising inflation.

According to a Reuters report published on October 14, Iran’s annual inflation rate reached 73.6 per cent in September. The report also indicated that the rial had lost approximately 35 per cent of its value against the US dollar since July.

Amid continued fluctuations in currency markets, individuals and businesses have been advised to check the latest rates with relevant exchange dealers before conducting transactions.

Note: The figures are based on available official data and reported open-market estimates. They should not be treated as verified live buying and selling rates in Pakistan’s foreign exchange market.