As the situation continues to unfold, kARACHI ( June 23, 2026): Following the 60-day peace agreement between Iran and the US, Pakistan's open currency market is witnessing a significant increase in the demand for the Iranian Rial, in the wake of which the price has doubled. According to currency market sources, a large number of citizens showed interest in purchasing Iranian Rial during the last five days after the peace agreement. Officials are expected to release further statements.

Background

What is happening now can be traced back to a series of decisions and events that preceded it.

The extraordinary increase in demand for the Iranian Rial has led to its value in the open market increasing by almost 100 percent.

In this regard, Chairman of the Exchange Companies Association of Pakistan ( ECAP), Malik Bustan, in a special conversation with ARY Reports, said that during the last five days, Pakistanis have bought about 3 trillion rupees worth of Iranian Rials, in which a large number of middle-income investors.

Analysis

Those following the situation closely say this marks a meaningful shift.

He said that the value of Iranian Rial has escalated significantly in the open market due to this rush in purchasing.

Alongside the primary story, as stated by to him, 1 crore Iranian Rials, which were earlier available for roughly 2,000 Pakistani Rupees, are now being sold for around 4,000 Rupees.

National Impact

What this means for Americans — and for the country as a whole — is becoming clearer.

Malik Bustan said that after reports of a possible deal between Tehran and Washington, speculation among investors and currency traders increased, increasing demand for the rial.

Against this backdrop, he advised the public to buy and sell currency only through licensed exchange companies to avoid fraud and illegal transactions.

What Happens Next

The events outlined in this report highlight the complexity and significance of the broader issue at hand. Stakeholders, policymakers, and the public are expected to closely monitor what comes next.