Rush to buy Iranian currency sparks risk warnings: Details inside

KARACHI: Amid the recent Iran-Iraq war, a large number of Pakistanis are buying Iranian currency in the hope that the value of Iran’s currency will also increase with the possible improvement in Iran’s economic conditions after the end of the war.

Some people are also claiming that one can easily become a “millionaire” by buying Iranian currency, but experts are calling this trend mere speculation and a risky investment.

Talking to a private news channel in this regard, Malik Bostan, Chairman of the Exchange Companies Association of Pakistan, gave very important advice to the viewers.

He said that if someone has even a few thousand rupees, he can become the owner of a large amount of money by buying Iranian currency. He said that his own family and children are also investing in it and a large amount of foreign currency can be obtained with a limited amount.

Malik Bostan said that buying and selling Iranian currency is completely a game of luck. It is not necessary for the Iranian government to continue issuing these same currency notes in the future. It can also cancel them, which can cause serious damage to investors, so great caution is needed.

It should be remembered that in view of international sanctions and economic uncertainty, such investments are being described as extremely risky.