Speculation pushes Iranian rial fourfold against rupee

KARACHI: The value of the Iranian rial has surged nearly fourfold against the Pakistani rupee during the ongoing war, driven by speculative buying and increased cross-border trade, while demand for the currency remains high, market sources said on Tuesday. The price rose from Rs2,500 per 10 million rials before the war to Rs10,000 per 10 million rials, reflecting a sharp increase in demand. Speculation is high in the currency market that Iran has been earning more during the war compared to t...

By none@none.com (Shahid Iqbal)