The Iranian rial gained more than 15% over the week after Tehran and Washington announced an agreement to end hostilities and resolve disputes through dialogue.
The US dollar fell to as low as 1.52 million Iranian rials on Wednesday, according to Pashizi data. It had traded near 1.81 million rials last week.
The currency move followed improved sentiment in Iranian financial markets. The recovery is expected to be driven by lower geopolitical tensions and renewed diplomatic engagement.
The dollar had climbed to about 1.93 million rials in March after the US and Israeli attacks began on February 28. The level marked a record high and accelerated pressure on Iran’s currency.
Free-market exchange rates in Iran are often quoted in tomans, although the rial is the official currency. One toman equals 10 rials, making 152,000 tomans equal to 1.52 million rials.
The IRR-to-PKR open-market rate also reflects Iran’s dual-exchange system. One million Iranian rials were worth about Rs. 7 to Rs. 8, while one crore Iranian rials traded around Rs. 9,000 to Rs. 9,500.
Read: Iranian Rial to Pakistani Rupee Rate Shows Sharp Market Gap
Currency dealers and market experts urged caution. They said the rial may not see a confirmed sustained rise even if the war ends, leaving hoarders, buyers and investors exposed to losses.
