Karachi (Lord Media): Pakistanis have purchased 3 trillion Iranian rials in five days following a 100% increase in the rial’s value after a rapprochement between Iran and the United States.
Malik Bostan, Chairman of the Exchange Companies Association, stated that trading in Iranian rials is legal in Pakistan, with the middle class actively buying the currency. He noted that the price of 10 million Iranian rials, which was 2,000 rupees, has now risen to 4,000 rupees.
Bostan advised the public to purchase Iranian rials from licensed money changers, adding that prices are higher outside Karachi and in remote areas. He attributed the surge in buying to the Iran-U.S. agreement.
Bostan mentioned that up to 275,000 rupees worth of Iranian rials can be bought in a month, with 60% of buyers purchasing rials worth up to 100,000 rupees. He urged people to consider their purchases carefully instead of buying blindly.
