The devaluation of the Iranian Rial has caused chaos in the Pakistani currency market, with the US Dollar’s price also rising.
Tehran: (RightNow) The Iranian Rial has significantly devalued, with 10 million Rials now worth 5,000 Pakistani Rupees.
The Iranian Central Bank has issued a new official rate, showing further devaluation of the Rial against the Pakistani Rupee and other global currencies.
According to the bank, the official rate for 1 US Dollar is now 1,436,205 Rials, while 1 Euro is priced at 1,633,131 Rials.
In contrast, the open market in Iran sees the Dollar trading between 1.86 million and 1.89 million Rials.
It is noteworthy that after a recent agreement between Iran and the US, transactions worth 2 trillion Rials have occurred.
