Iranian Rial Plunges in Value, 10 Million Rials Now Worth Around Rs5,000 in Pakistan

ISLAMABAD: A significant decline in the value of the Iranian rial has brought welcome news for buyers in Pakistan, with 10 million Iranian rials now valued at approximately Rs5,000 in the local open market.

The Central Bank of Iran has released new official exchange rates for foreign currencies, showing a further depreciation of the Iranian rial against major global currencies, including the Pakistani rupee.

According to the Iranian central bank, as of July 29, 2026, the official exchange rate of the U.S. dollar increased from 1,421,105 rials to 1,436,205 Iranian rials, while one euro reached 1,633,131 rials.

Meanwhile, under Iran’s authorized money changers’ “Sana System,” the U.S. dollar is trading at 1,517,870 rials and the euro at 1,725,994 rials.

Official figures further indicate that 100 Pakistani rupees are equivalent to 517,104 Iranian rials, placing the value of one Pakistani rupee at approximately 5,171 Iranian rials at the official exchange rate.

However, there remains a substantial gap between Iran’s official and open market exchange rates. In Iran’s open market, the U.S. dollar is reportedly trading between 1.86 million and 1.89 million Iranian rials.

In Pakistan’s open currency market, 10 million Iranian rials are currently being sold for between Rs4,500 and Rs5,000.

Currency market experts and dealers have cautioned traders engaged in bilateral commerce between Pakistan and Iran that the significant disparity between the Iranian rial’s official and unofficial exchange rates could result in considerable volatility in the coming days. They have advised businesses to closely monitor exchange rate movements before conducting large transactions.