LAHORE – The Iranian currency has slightly strengthened despite ongoing exchange of strikes with the US due to tensions of Strait of Hormuz, according to data available on official website of the Central Bank of Iran (CBI).

According to official exchange rates dated 12 July 2026, 100 Pakistani rupees would exchange for approximately 487,555 Iranian rials (IRR).

This large number is because the Iranian rial has a very low face value due to years of high inflation and currency depreciation. As a result, even a small amount of foreign currency converts into hundreds of thousands of rials.

The official IRR rate for 1 US Dollar now stands at 1,355,322 Iranian Rials while one Pound is valued at 1,816,433 rials.

1 crore Iranian Rial to PKR Open Market Rate

In Pakistan’s open market, a packet containing 1 crore (10 million) Iranian rials is reportedly trading for Rs7,500 to Rs8,000, with prices varying between Quetta and other major urban centers.

US and Iran Exchange Fresh Strikes

Iran’s Revolutionary Guards said they targeted US military bases in Jordan, Bahrain and Kuwait in retaliation for recent American airstrikes.

Iranian state media reported strikes on two airbases in Kuwait. Meanwhile, Bahrain activated missile alert sirens for a second time as regional tensions continued to escalate across the Gulf.

Earlier, US Central Command (CENTCOM) completed a new wave of offensive strikes against Iran, July 12, hitting dozens of targets at multiple locations with precision munitions to degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz.

CENTCOM forces struck Iranian military air-defense systems, coastal radar sites, missile and drone capabilities, and small boats using U.S. fighter aircraft, naval vessels, one-way attack aerial drones, and one-way attack sea drones for the first time.