Currency Exchange Rates

Exchange rates determine how much one currency is worth in terms of another. In Pakistan, the most closely watched rate is that of the Pakistani rupee against the US dollar, as it affects import costs, remittances, foreign debt payments, and the prices of many everyday goods. Use the live converter above for instant calculations, or browse the reference rate table below.

Pakistan operates a managed floating exchange rate system. This means the rupee's value is largely set by supply and demand in the foreign exchange market, while the State Bank of Pakistan may intervene to curb excessive volatility or disorderly movements. The interbank rate applies to transactions between banks, while the open market rate is what money changers offer to the public — the two can differ slightly.

What Moves the Pakistani Rupee?

Several factors move the rupee. These include the trade balance, remittance inflows from overseas Pakistanis, foreign investment, State Bank policy decisions, and global developments such as changes in US interest rates or oil prices. When demand for dollars rises faster than supply, the rupee tends to weaken, and vice versa. Remittances — the money sent home by Pakistanis working abroad, especially in the Gulf — are one of the strongest supports for the rupee, while a rising import bill for fuel and machinery puts pressure on it.

Interbank vs Open Market Rates

You will often see two different dollar rates quoted in Pakistan. The interbank rate is the rate at which banks trade foreign currency with each other, and it is the benchmark most news reports cite. The open market rate is what licensed money changers and exchange companies offer to walk-in customers buying or selling cash dollars, euros or riyals. The open market rate is usually slightly higher than the interbank rate because dealers add their margin. The table above shows interbank mid-market reference rates; if you are buying currency in cash, expect the money changer's selling rate to be a little above these figures. For official reference rates and the State Bank's published data, visit sbp.org.pk.

Frequently Asked Questions

What is the dollar rate in Pakistan today?
The live table above shows today's interbank mid-market reference rate for the US dollar against the Pakistani rupee, refreshed from live market data. Open market (cash) rates quoted by money changers are usually slightly higher.

How do I convert USD to PKR?
Use the live converter at the top of this page — enter an amount, choose USD as the source and PKR as the target. The tool multiplies your amount by the current live USD-PKR rate.

Why is there a difference between the interbank and open market rate?
The interbank rate is for bank-to-bank trading, while the open market rate includes the money changer's margin and the costs of handling physical cash. The gap is normally small but can widen when demand for cash dollars surges.

Where can I get the official State Bank exchange rates?
The State Bank of Pakistan publishes official rates on its website at sbp.org.pk. Commercial banks and licensed exchange companies also publish their own buying and selling rates daily.

If you are exchanging currency, compare rates from a few licensed dealers, confirm whether the quoted rate is for buying or selling, and always obtain a receipt. Avoid unlicensed dealers, and be cautious of rates that look significantly better than the market — they are often a sign of fraud.