Indian rupee now many times stronger than Iranian rial:Become a millionaire in Iran with just ₹7,600, save ₹20K on 10 gm gold, get a Renault Kwid for ₹30K

The Iranian currency rial has dropped sharply against the Indian rupee in recent weeks even as its central bank struggles to rescue the crumbling financial system battered by years of financial mismanagement and western sanctions over its nuclear ambitions. Ayatollah Ali Khamenei, the country’s supreme leader and a conservative, revolutionary ideologue, who has helmed the Islamic Republic since 1989, is facing one of the fieriest uprisings against his regime, sparked by the country’s economic despair, from rising food prices and unemployment to lack of opportunities. Consequently, the Iranian rial has plummeted to new depths, unseen in recent history. How much did the Iranian rial fall against USD? Rial crashed around 56% against the US dollar in the last six months. Currently, 1 USD equals 10,64,278.50 Iranian rials (IRR), while, one Indian rupee equals 11,782 IRR, according to xe.com, a web portal that tracks currency exchange rates. The falling Iranian rial has opened new opportunities for Indians. With a stronger rupee, they can now buy a whole lot more in Iran than in India. Let’s explore how affordable the Iranian goods have become vis-a-vis the Indian rupee, with a caveat – allowed currency conversion from INR to Iranian rial. Gold silver prices will be ₹20,000 cheaper Indians’ love for gold and silver is well-known, and Iran has a rich history of craftsmanship in these precious metals. With a weaker rial, Iranian gold and silver can be a smart investment move. You may find beautiful jewellery, coins, or other items that could be far more affordable than back in India. At current exchange rate, ₹1 = 11,782 IRR, you can buy 10 grams of gold for ₹1.22 lakh, compared with ₹1.42 lakh in India, cheaper by ₹20,000 excluding local taxes. According to the India Bullion and Jewelers Association (IBJA), on January 14, the price of 10 grams of 24 carat gold reached an all-time high of ₹1,42,015, while, silver prices jumped ₹5,208 to touch an all-time high of ₹2,82,720 per kg. In contrast, silver currently costs 310,87,65,251.50 rials per kg in Iran, according to livepriceofgold.com, an online portal for commodity rates. This shows, 1 kg of silver would be around ₹20,000 cheaper excluding local taxes. With just ₹7,638, you could be a ‘millionaire’ in Iran When you convert rupee into rial, you’ll have a huge pile of Iranian money. As rial’s value has dropped, even with a paltry ₹7,638, you would be a millionaire. A millionaire is a person with a net worth of $1 million which translates to 9,02,81,128.42 IRR or ₹7,664.19 in Indian currency. In Iran, you can buy a Renault Kwid for just over ₹30,000 According to the online portal, ccarprice.com, the price of a 2026 Renault Kwid EV in Iran is IRR 35,80,62,500, which translates to just over ₹30,000. While Iran might seem like a shopper’s paradise currently, there are a few important things to remember. The value of currencies can fluctuate, so what’s a good deal today might not be tomorrow. The fall of the rial has made many things surprisingly affordable in rupee, from luxury hotels to gold jewellery. The Iranian currency, the rial, has indeed fallen significantly, potentially making some goods and services more affordable if bought in Indian currency. However, due to the unrest, travelling to Iran could be risky now. The Indian Ministry of External Affairs (MEA) and the Indian Embassy in Tehran have advised Indians to avoid traveling to Iran while those already there have been asked to leave the country at the earliest due to the deteriorating security situation. Comparison of other Iranian product prices in IRR and INR Source: www.iraniantours.com India-Iran trade in FY2025 In FY2025, bilateral trade between India and Iran stood at ₹14,244.86 crore, hitting a five-year low after continuous decline in trade volume over the last two years. Which top commodities India exports and imports from Iran? Major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, manmade staple fibres, electrical machinery and artificial jewellery, while major imports include dry fruits, inorganic and organic chemicals and glassware. Iran protests The unrest in Iran has spread to over 280 cities despite a severe government crackdown, which included internet blackouts and crowd dispersion measures. The crackdown on the demonstrations has killed at least 2,615 people, according to the US-based human rights group.