Trading volumes of the Iranian currency have reached as much as $6 million a day in Pakistan’s open market, according to the Exchange Companies Association of Pakistan, with demand accelerating after reports of renewed negotiations between Washington and Tehran.

The rally has been fueled in part by Islamabad’s diplomatic outreach, with Asim Munir visiting Iran and Shehbaz Sharif undertaking a regional tour following high-level U.S.-Iran talks hosted in the Pakistani capital. Market participants say these developments have strengthened expectations of a potential breakthrough.

The Iranian riyal has risen by around 50% in Pakistan’s informal market since late February, climbing from about Rs10,000 to Rs15,000 per 10 million riyals after talks began in Islamabad on April 11, ECAP data shows.Small investors are increasingly participating in the trend.

Muhammad Akbar, a chauffeur in Karachi, said he had invested part of his monthly income into the currency, hoping to profit if negotiations succeed. “I have become a millionaire,” he said, referring to the large nominal value of riyals he now holds.Others have built significantly larger positions.

Retail investor Azam Khan said he had accumulated hundreds of millions of riyals as the currency gained traction among traders seeking quick returns.Market participants say the surge reflects heightened expectations rather than underlying economic strength.

Zafar Sultan Paracha said demand had surged across investor categories, though he cautioned that trading volumes may be even higher due to undocumented transactions.“People’s expectations are very high,” Paracha said, urging investors to base decisions on fundamentals rather than speculation.Economists warn the rally bears hallmarks of behavioral bias rather than structural recovery.

Muhammad Waqas Ghani described the trend as a “gambler’s fallacy,” where investors assume a rebound is likely simply because the currency has weakened in the past.He said Iran continues to face deep economic challenges, including liquidity shortages and stress in its banking system, which limit the scope for sustained appreciation.

Without broader reforms or durable sanctions relief, gains are likely to remain localized to Pakistan’s market rather than reflecting a global revaluation.Some investors remain cautious. Isra Ghous Rasool, a business student and stock market participant, said volatility linked to geopolitical developments made the currency too risky. “There’s simply too much volatility for me to comfortably manage,” she said.

Pakistan has also taken steps to facilitate trade through Iran, temporarily easing export rules for shipments of goods to Central Asia via Iranian territory, a move analysts say may have contributed modestly to the currency’s local demand.

Still, analysts say the current surge is driven primarily by speculation tied to geopolitical expectations rather than economic fundamentals, leaving investors exposed to sharp reversals if diplomatic progress stalls.

Speaking at a diplomatic forum in Antalya, Sharaa said Damascus was seeking either to revive the framework of the 1974 disengagement agreement or to establish a new arrangement guaranteeing security for both sides. He added that progress on such terms could open the door to extended negotiations on the broader Golan issue.

The remarks come after Israeli forces entered a United Nations-patrolled buffer zone separating Israeli and Syrian positions on the Golan Heights following the ouster of former Syrian leader in December 2024.

Sharaa accused Israel of violating the 1974 disengagement accord and said Syria was working toward a security agreement that would ensure Israeli withdrawal to positions held under that arrangement. He reiterated that any future negotiations would depend on restoring those lines.

Israel captured most of the Golan Heights from Syria during the and later annexed the territory, a move not recognised by most of the international community.

Earlier this year, Syrian Foreign Minister said ongoing discussions with Israel were focused on recently occupied areas and did not extend to the broader territorial dispute over the Golan Heights.

Israeli Prime Minister has repeatedly indicated that Israel does not intend to relinquish control over the territory it holds in the Golan Heights.

United Arab Emirates presidential adviser Anwar Gargash said the UAE had emerged stronger from the conflict, despite efforts to avoid escalation.

“The UAE emerged victorious from a war we sincerely sought to avoid,” Gargash wrote on X, adding that the country was better positioned to navigate regional complexities and influence future developments.

In Oman, officials stressed the importance of mediation and sustained engagement, with the foreign minister pledging support for initiatives aimed at achieving “strong and enduring regional security.”

Omani authorities urged Washington and Tehran to pursue serious negotiations to secure a durable peace.Saudi Arabia also backed diplomatic efforts, with its foreign ministry emphasizing the need for an agreement that addresses underlying causes of instability and long-term threats to regional security.

The responses highlight a broader regional push to consolidate the ceasefire into a lasting settlement, amid concerns over the potential for renewed tensions and the wider impact on Middle East stability.

In a statement carried by the Saudi Press Agency, the Kingdom’s Ministry of Foreign Affairs said the strike on a medical facility in the city of Al-Jabalain constituted a “flagrant violation of international law and international humanitarian law,” as well as a breach of fundamental principles governing armed conflict.

The ministry denounced the targeting of the hospital as a “reprehensible act” that cannot be justified under any circumstances, underscoring the protected status of medical facilities and personnel under international humanitarian norms.

Saudi Arabia called for an immediate cessation of such violations and urged all parties involved in the Sudan conflict to adhere to the Jeddah Declaration signed on May 11, 2023, which includes commitments to safeguard civilians and civilian infrastructure.

The Kingdom reiterated its longstanding position supporting Sudan’s unity and its legitimate institutions, stating that preserving these remains essential for achieving stability and addressing the aspirations of the Sudanese population.

In a statement, the ministry said the talks focused on what it described as a “military-political crisis” triggered by U.S.-Israeli actions against Iran, and included an exchange of views on shifting the conflict toward a political and diplomatic track grounded in international law.

The Russian side also briefed Iran on a recent shipment of humanitarian aid, according to the statement. Moscow and Tehran have previously signed a strategic partnership agreement spanning political, economic, military and energy cooperation, though it does not include a mutual defense clause.

At a Group of Seven meeting, European foreign ministers raised concerns with U.S. Secretary of State Marco Rubio that Russia may be assisting Iran in targeting U.S. forces in the region.

Two Western security sources and a regional official close to Tehran told Reuters that Russia had provided satellite imagery and technical support to enhance Iranian drone capabilities, drawing on systems used by Moscow in its conflict in Ukraine.

Russia has deployed Iranian-designed drones in its war in Ukraine, underscoring growing defense cooperation between the two countries.

The latest diplomatic engagement comes amid intensifying hostilities across the Middle East and mounting international calls to contain the conflict through negotiations.

In a statement posted on X, Foreign Minister Anita Anand said Canada opposed any action that undermines Lebanon’s borders, as Israeli forces carried out fresh strikes across the country amid escalating regional tensions.

The remarks come against the backdrop of renewed hostilities involving Israel and armed groups in Lebanon, raising concerns among international stakeholders about a widening conflict.

Israel previously occupied southern Lebanon for nearly two decades before withdrawing in 2000.

Canada’s statement did not outline any specific measures but underscored Ottawa’s position on respecting international law and state sovereignty as fighting intensifies in the region.

The change comes at a time when the United States continues to assess its engagement strategy with Iraq, a key partner in the Middle East. Officials have emphasized that Washington remains committed to supporting Iraq’s stability, sovereignty, and long-term development through diplomatic channels and strategic cooperation.

The individual appointed to the envoy role had been expected to contribute to strengthening bilateral dialogue and facilitating communication between Washington and Baghdad. However, recent indications suggest that the responsibilities linked to Iraq policy may now be managed through existing diplomatic structures rather than a standalone envoy position.

US officials have not publicly detailed the reasons behind the adjustment, and no formal announcement has been made regarding a successor. Observers note that such changes are not uncommon as administrations refine their approaches based on regional developments and internal coordination needs.

Diplomatic sources suggest that oversight of Iraq-related matters may be integrated into a broader regional portfolio handled by senior officials already engaged in Middle East affairs. This approach is seen as a way to ensure continuity while aligning Iraq policy with wider regional objectives.

Iraq remains an important partner for the United States in areas such as energy, security cooperation, and economic engagement. American officials have repeatedly stated that their goal is to work with Iraqi institutions in a manner that respects national decision-making processes and promotes inclusive governance.

The recent personnel developments coincide with active diplomatic engagement across the region, including consultations with allies and partners on security, economic resilience, and regional stability. Analysts say these discussions underscore Washington’s intent to maintain constructive relations with Baghdad while addressing broader strategic considerations.

While the envoy role itself appears to be in transition, US diplomatic activity related to Iraq continues through the State Department and other official channels. Embassies, regional envoys, and senior diplomats are expected to carry forward dialogue on key bilateral and regional issues.

Iraqi officials, for their part, have continued routine engagement with US counterparts, focusing on cooperation frameworks that have been in place for several years. These include economic partnerships, educational exchanges, and coordination on shared security interests.

The absence of a dedicated envoy has not altered official commitments on either side, according to observers. Instead, it reflects a recalibration of how diplomatic resources are deployed to best serve policy goals amid a complex regional landscape.

As Washington reviews its diplomatic structures, attention remains on sustaining steady communication and collaboration with Iraq. Both sides have expressed interest in maintaining a balanced and forward-looking relationship that contributes to regional stability and mutual benefit.

Further clarity on the handling of the Iraq portfolio is expected in due course as administrative processes conclude. Until then, existing diplomatic mechanisms are set to continue guiding engagement between the United States and Iraq.

Recent developments in Gaza have renewed international focus on the fragility of ceasefire arrangements and the broader humanitarian situation. Regional actors underlined that maintaining stability is essential for ensuring access to aid, supporting recovery efforts, and preventing further disruption to daily life in the enclave.

Qatar stressed that sustained calm is vital for advancing political pathways aimed at de-escalation and longer-term stability. Doha called for full adherence to agreed mechanisms and encouraged all stakeholders to act responsibly in order to safeguard ongoing diplomatic initiatives.

The Qatari leadership also highlighted the importance of creating conditions that allow for early recovery and reconstruction. Emphasis was placed on supporting civilians, rebuilding infrastructure, and ensuring that humanitarian efforts are not impeded by renewed tensions.

Jordan echoed similar sentiments, urging strict compliance with ceasefire understandings and a renewed commitment to humanitarian access. Officials emphasized that uninterrupted delivery of assistance is crucial for addressing urgent needs and supporting vulnerable populations.

Amman also reiterated the importance of sustained international engagement and cooperation. Jordan’s position underscored that long-term peace requires a clear political horizon supported by diplomacy, international law, and multilateral coordination.

Egypt, which has played a long-standing mediating role, emphasized the need to preserve calm and prevent any actions that could destabilize the situation. Cairo highlighted that restraint remains key to maintaining progress achieved through earlier negotiations.

Egyptian officials warned that setbacks could undermine security and humanitarian efforts alike. They stressed that stability is necessary to allow relief operations, early recovery planning, and confidence-building measures to move forward effectively.

Across the region, there is growing consensus that de-escalation serves the interests of all parties involved. Regional governments continue to encourage constructive engagement, respect for agreed arrangements, and support for diplomatic solutions that prioritize civilian well-being.

International observers note that sustained calm would help reinforce trust in mediation efforts and reduce risks of wider regional spillover. Maintaining dialogue and adherence to commitments is viewed as essential for preventing further instability.

The humanitarian situation remains a central concern, with regional actors consistently calling for the protection of civilians and facilitation of aid. These efforts are seen as foundational steps toward rebuilding and restoring normalcy.

As diplomatic consultations continue, Qatar, Jordan, and Egypt reaffirmed their readiness to work with international partners. Their shared message emphasizes restraint, cooperation, and a renewed focus on stability as the most viable path forward.

The meeting took place in a cordial and welcoming atmosphere, highlighting ongoing dialogue and exchanges between Saudi Arabia and prominent global leaders with extensive experience in diplomacy and international affairs.

During the meeting, the Crown Prince and Clinton engaged in a friendly conversation that touched on a range of topics of mutual interest, underscoring the importance of open communication and constructive engagement in today’s complex global environment.

The visit comes at a time when Saudi Arabia is playing an increasingly active role on the international stage, strengthening ties with global partners while advancing its Vision 2030 agenda focused on economic diversification, social reform and regional stability.

Saudi Arabia has in recent years positioned itself as a key diplomatic hub, hosting high-level meetings and dialogues with current and former leaders, policymakers and international stakeholders from across the world.

Clinton’s meeting with the Crown Prince reflects continued interest among global political figures in engaging with the Kingdom as it undergoes significant transformation across economic, social and political spheres.

As a former top US diplomat, Clinton has been involved in shaping international policy on issues ranging from global security to economic development, making her visit notable in the context of broader international discussions.

The meeting also highlights the Kingdom’s emphasis on maintaining channels of dialogue with figures from across the political spectrum, reinforcing Saudi Arabia’s role as a platform for diplomatic engagement and exchange of perspectives.

Over the past decade, relations between Saudi Arabia and the United States have evolved amid shifting geopolitical dynamics, with both sides emphasizing cooperation on regional security, economic partnerships and global stability.

Saudi leadership has consistently underscored the importance of balanced international relations, seeking to strengthen partnerships while safeguarding national interests and promoting peace and development in the region.

The Crown Prince’s engagement with international leaders aligns with Saudi Arabia’s broader diplomatic approach, which includes active participation in global forums, mediation efforts and international initiatives aimed at fostering dialogue and cooperation.

Riyadh has increasingly hosted high-profile visits, conferences and summits, reinforcing its position as a central meeting point for discussions on global challenges such as energy security, economic growth, climate change and regional stability.

Clinton’s presence in Riyadh adds to a series of visits by former and current global leaders, reflecting continued international attention on Saudi Arabia’s evolving role in global affairs.

Observers note that such meetings contribute to mutual understanding and allow for the exchange of insights on international trends, policy challenges and opportunities for cooperation.

The Crown Prince has frequently emphasized Saudi Arabia’s openness to dialogue and collaboration with partners around the world, as part of the Kingdom’s efforts to build constructive relationships based on mutual respect and shared interests.

Friendly and informal exchanges during such meetings often serve as a foundation for broader understanding, even when participants no longer hold official government positions.

Saudi Arabia’s leadership continues to engage with influential global voices to share perspectives on the Kingdom’s reforms, regional developments and international priorities.

The meeting at Al-Yamamah Palace reflects the Kingdom’s long-standing tradition of diplomatic hospitality and its commitment to engaging with international figures in a respectful and open manner.

As Saudi Arabia continues to advance its national transformation agenda, interactions with global leaders and former policymakers remain an important element of its diplomatic outreach and international engagement strategy.

According to people familiar with the matter, Hamas wants its roughly 10,000 police officers to be incorporated into a new Palestinian-led administrative body intended to run Gaza after the conflict. The group argues that excluding its existing civil and security structures could lead to chaos and undermine basic law and order.

Hamas currently retains control over significant parts of Gaza despite the ceasefire reached earlier, which linked further Israeli troop withdrawals to the militant group’s willingness to disarm. The agreement envisions governance being transferred to a technocratic body designed to operate independently of Hamas.

That body, known as the National Committee for the Administration of Gaza, is expected to oversee civilian affairs with international backing. However, the framework explicitly aims to keep armed groups out of positions of authority, creating a major point of contention.

In a letter circulated internally, Hamas leadership urged more than 40,000 civil servants and security personnel to cooperate with the new administration. At the same time, the message reassured staff that efforts were underway to ensure their continued employment and institutional presence.

Sources say Hamas believes integrating existing workers, including police, would ensure continuity of services and prevent administrative collapse. Mass dismissals, they warn, could fuel instability at a time when Gaza is already struggling with widespread destruction and humanitarian stress.

Israel has repeatedly stated it will not accept any future role for Hamas in Gaza, whether political or security-related. Officials in Israel argue that allowing Hamas-affiliated police or administrators to remain would undermine the goal of demilitarizing the enclave.

The question of security leadership remains especially sensitive, with debate over whether figures previously associated with rival Palestinian factions can operate effectively in Gaza. Past rivalries and unresolved grievances continue to complicate efforts to build a unified command structure.

Disarmament remains the central sticking point in negotiations, with international mediators pressing Hamas to give up heavy weapons as a condition for long-term stability. While the group has signaled openness to discussing arms neutralization, it insists that any such move must be tied to broader political progress.

Hamas leaders have indicated they could consider a long-term ceasefire if meaningful negotiations on Palestinian statehood begin. They argue that weapons should ultimately fall under the authority of a recognized Palestinian state rather than being surrendered without political guarantees.

Other armed factions in Gaza are also watching the talks closely, fearing that unilateral disarmament could leave them exposed. These groups are reportedly weighing similar concerns about security, representation, and future political inclusion.

For now, uncertainty surrounds how Gaza will be governed, policed, and secured in the coming months. The outcome will depend on whether competing demands over security forces, arms, and political legitimacy can be reconciled under intense regional and international pressure.