Currency Exchange Rates Pakistan
Compare live Interbank and retail Open Market currency rates in Pakistani Rupee (PKR). Use our premium converter tool for accurate forex calculation.
Today's currency exchange rates in Pakistan show the US Dollar (USD) buying at 287.15 PKR and selling at 287.65 PKR in the interbank market. In the retail open market, USD trades higher, buying at 288.50 PKR and selling at 289.80 PKR. Other major exchange currencies are also active today, with the Saudi Riyal (SAR) trading at 76.60 PKR, the UAE Dirham (AED) at 78.30 PKR, and the Euro (EUR) at 312.40 PKR. Compare interbank vs. open market prices below and convert instantly.
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Pakistan Currency Exchange Rates Table
| Currency | Code | Buying Price (PKR) | Selling Price (PKR) | Spread | Daily Change |
|---|---|---|---|---|---|
| 🇺🇸US Dollar | USD | ₨ 288.50 | ₨ 289.80 | ₨ 1.30 | +0.12% |
| 🇪🇺Euro | EUR | ₨ 312.40 | ₨ 314.10 | ₨ 1.70 | -0.15% |
| 🇬🇧British Pound | GBP | ₨ 366.10 | ₨ 368.50 | ₨ 2.40 | +0.08% |
| 🇸🇦Saudi Riyal | SAR | ₨ 76.60 | ₨ 77.20 | ₨ 0.60 | +0.00% |
| 🇦🇪UAE Dirham | AED | ₨ 78.30 | ₨ 79.00 | ₨ 0.70 | +0.02% |
| 🇨🇦Canadian Dollar | CAD | ₨ 211.80 | ₨ 213.50 | ₨ 1.70 | -0.22% |
| 🇦🇺Australian Dollar | AUD | ₨ 192.50 | ₨ 194.30 | ₨ 1.80 | -0.05% |
| 🇨🇳Chinese Yuan | CNY | ₨ 40.10 | ₨ 40.60 | ₨ 0.50 | +0.18% |
| 🇯🇵Japanese Yen | JPY | ₨ 1.85 | ₨ 1.89 | ₨ 0.04 | -0.42% |
| 🇰🇼Kuwaiti Dinar | KWD | ₨ 933.00 | ₨ 941.00 | ₨ 8.00 | +0.05% |
| 🇴🇲Omani Rial | OMR | ₨ 747.00 | ₨ 753.00 | ₨ 6.00 | +0.01% |
Note on Spreads: The spread is the difference between the buying price (what the dealer pays you) and the selling price (what you pay the dealer). Open market spreads are typically wider than interbank spreads due to the retail handling costs of physical banknotes.
Interbank vs Open Market Exchange Rates
In Pakistan, foreign currencies are traded in two distinct markets, resulting in two separate exchange rates. Understanding the difference between these is vital for anyone exchanging currency, trading, or analyzing the economy:
The Interbank Market
This is the wholesale market where commercial banks trade foreign currency among themselves and with the State Bank of Pakistan (SBP). Interbank rates are highly stable, have incredibly narrow spreads, and represent the official rate used for import/export settlements and large corporate transactions.
The Open Market
This is the retail market managed by authorized exchange companies where ordinary citizens buy and sell physical foreign currency banknotes for travel, personal savings, or remittances. Open market rates carry wider buying/selling spreads and are highly sensitive to local cash supply and demand factors.
How Currency Exchange Rates Impact Gold Prices
The local gold rate in Pakistan is directly linked to the USD to PKR exchange rate. Because gold is traded internationally in US Dollars (USD) per troy ounce, any fluctuation in the rupee exchange rate immediately affects the price of physical gold in Pakistan:
Exchange Rate Depreciation Effect
If the PKR depreciates against the USD (i.e., the dollar becomes more expensive in rupees), the price of gold in Pakistan will automatically rise, even if the international gold price in New York or London remains completely unchanged.
Rupee Appreciation Effect
Conversely, if the Pakistani Rupee strengthens against the USD, local gold prices generally experience downward pressure, offering a cheaper buying opportunity for local jewelers and investors.
State Bank of Pakistan (SBP) Forex Guidelines
The State Bank of Pakistan tightly regulates the buying, selling, and holding of foreign currencies to maintain economic stability. Key rules and regulations include:
- ✓Biometric Verification: Any foreign currency transaction exceeding $500 (or equivalent) in the open market requires biometric verification and submission of official ID documents (CNIC/Passport).
- ✓Legal Sources: Always buy or sell foreign currency through licensed Exchange Companies Category 'A' or registered commercial banks. Avoid unauthorized street dealers or illegal Hundi/Hawala networks.
- ✓Travel Limits: The SBP permits individuals traveling abroad to carry up to $5,000 per visit (or equivalent), with a maximum annual limit of $30,000 per person. Always check current circulars before traveling.
Frequently Asked Questions (FAQs)
Exchange Rate Mechanisms
Exchange rates in Pakistan operate under a market-determined floating exchange rate regime since late 2018. This means the price of the Pakistani Rupee is determined by forex market supply and demand forces, rather than being fixed or pegged by the central bank.
Forex & Gold Correlation
Statistically, the correlation between the USD/PKR exchange rate and local 24K gold price over the last 5 years exceeds 0.92. This represents an extremely high positive correlation, proving that gold remains an excellent domestic hedge against PKR inflation and currency devaluation.