Following reports of a deal between the United States and Iran, the Iranian rial has seen a significant increase in value, while demand for the currency has also risen in the local market.

According to the Exchange Companies Association, the value of 100 million Iranian rials increased by around 1,500 rupees in a single day, after which its market price reached 4,000 rupees.

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The Chairman of the Association, Malik Bostan, said that after the agreement, Iranian rials worth around 25 billion rupees were sold on the first day, and an unusual increase in demand is still being recorded today.

According to a money exchanger in Peshawar, Ali Sher Khan, the exchange rates for the Iranian rial have been continuously rising since morning. He said that in the market, 100 million Iranian rials are being sold between 3,500 and 4,000 rupees.

Currency dealers say that due to positive developments related to Iran and improved economic expectations, the value of the Iranian rial is increasing.