Bad news for those bought Irani Rials in bulk for trading but value of one crore (10 million) Iranian rials moved down to around Rs4,500-Rs5,000 in Pakistan’s open market. 100 Pakistani rupees are equivalent to 517,104 Iranian rials, meaning one Pakistani rupee is now worth nearly 5,171 Iranian rials. The continued weakness of the Iranian rial has strengthened the relative position of Pakistani rupee, but warned that uncertainty in currency markets could trigger further fluctuations. Last month, Iranian rial buying increased in Pakistan, with an estimated 3 trillion rials purchased within a week amid an improving situation in Middle East. Demand among Pakistani buyers pushed the rial’s value sharply higher, with 10 million rials jumping to Rs7500-8000, which has now lost half of its value.