Currency Rates in Pakistan Today (PKR)
Live Forex Ticker: 23 August 2026 – 12:51 AM (Open Market & Interbank)
💵 Foreign Currency Exchange Rates in Pakistan (to PKR)
| Currency | Country | Buying (PKR) | Selling (PKR) |
|---|---|---|---|
| USD ($) | US Dollar | Rs. 269.52 | Rs. 271.82 |
| SAR (﷼) | Saudi Riyal | Rs. 71.50 | Rs. 72.51 |
| AED (د.إ) | UAE Dirham | Rs. 73.01 | Rs. 74.04 |
| GBP (£) | British Pound | Rs. 365.28 | Rs. 371.17 |
| EUR (€) | Euro | Rs. 312.91 | Rs. 317.96 |
| CAD ($) | Canadian Dollar | Rs. 194.43 | Rs. 197.96 |
| AUD ($) | Australian Dollar | Rs. 191.70 | Rs. 195.18 |
| KWD (د.ك) | Kuwaiti Dinar | Rs. 878.51 | Rs. 889.11 |
| QAR (﷼) | Qatari Riyal | Rs. 73.66 | Rs. 74.70 |
| OMR (﷼) | Omani Rial | Rs. 698.06 | Rs. 706.48 |
| CNY (¥) | Chinese Yuan | Rs. 39.71 | Rs. 40.44 |
Quick Summary: How Currency Exchange Works in Pakistan
Foreign currency exchange rates in Pakistan fluctuate based on two distinct regulated markets monitored by the State Bank of Pakistan (SBP): the Interbank Market (used for sovereign debt, commercial trade, and oil import LCs) and the Open Market (Kerb Market) (used by Exchange Companies for retail cash purchases, overseas travel quotas, and student fee remittances). The retail open market rate typically maintains a 0.5% to 1.5% spread over interbank quotes to account for logistics, vault insurance, and dealer margins.
Comparison: Interbank vs. Open Market Forex Rates
| Key Feature | Interbank Exchange Rate | Open Market (Kerb) Rate |
|---|---|---|
| Regulatory Authority | State Bank of Pakistan (SBP) | Exchange Companies Association (ECAP) |
| Primary Participants | Commercial Banks, Importers, Exporters | General Public, Travelers, Remittance Receivers |
| Settlement Mode | Electronic SWIFT / Bank Transfers | Physical Cash Over-the-Counter & Telegraphic Transfers |
| Spread (Margin) | Narrow (Tight institutional margins) | Slightly Wider (Includes retail dealer profit) |
| Operational Hours | Monday to Friday (9:00 AM – 5:00 PM) | Monday to Saturday (Extended retail hours) |
Top Factors Influencing Pakistani Rupee (PKR) Exchange Rates
1. Liquid Foreign Exchange Reserves
The gross liquid foreign exchange reserves maintained by the SBP and commercial banks determine Pakistan’s import cover window. Higher central bank reserve accumulation provides structural support to the Pakistani Rupee, curbing speculative currency devaluation.
2. Overseas Worker Remittance Inflows
Remittance transfers from non-resident Pakistanis (NRPs) stationed across Saudi Arabia, United Arab Emirates, United Kingdom, and the European Union represent a cornerstone of foreign currency liquidity, balancing the national current account deficit.
3. Trade Deficit and Import Invoices
Pakistan’s recurring import expenditures on petroleum products, LNG, edible oils, and industrial machinery create high dollar demand in the interbank clearing system, impacting open market currency pricing.
4. Multilateral Financing & Debt Amortization
Bilateral roll-overs, IMF extended fund facility (EFF) disbursements, and external sovereign debt servicing cycles cause immediate shifts in open market sentiment.
Consumer Guide: Converting Foreign Currency in Pakistan Safely
- ✅ Transact with SBP-Licensed Exchange Companies: Ensure foreign currency transactions are processed strictly via Category ‘A’ and ‘B’ exchange firms licensed under the Foreign Exchange Regulation Act.
- ✅ Demand Biometric / Computerized Receipts: SBP compliance rules mandate computerized receipts citing customer CNIC/Passport credentials for transparent record-keeping and tax filing proof.
- ✅ Check Note Physical Quality: Inspect banknotes for tears, pen markings, or older serial iterations (particularly for US Dollar Series 2006 vs 2013 blue notes), as local dealers frequently apply arbitrary deduction charges on damaged paper notes.
- ❌ Avoid Unauthorized Street Changers (Hawala/Hundi): Engaging in unverified informal cash networks carries legal confiscation penalties under anti-money laundering (AML) statutes.
Official Remittance Channels for Overseas Pakistanis
| Channel Type | Provider Examples | Key Benefit |
|---|---|---|
| Digital Bank Accounts | Roshan Digital Account (RDA) | Direct banking, tax exemptions & SBP security |
| Money Transfer Operators | Western Union, MoneyGram, Ria | Instant cash pickup across 10,000+ national branches |
| Fintech Wallet Transfers | Wise, Remitly, ACE Money Transfer | Low FX conversion charges directly to mobile wallets |
Why is the Open Market rate higher than the Interbank rate?
Open market rates include currency handling, insurance, logistics, and retail dealer operational margins, typically creating a 1%–2% spread over interbank quotes.
What documents are required to buy foreign currency in Pakistan
Customers must present an original valid CNIC/NICOP, a valid passport with visa, and confirmed air ticket for travel allocations exceeding regulatory thresholds.
How often do currency rates change throughout the day?
Interbank rates update continuously during banking market trading hours (9:00 AM to 5:00 PM PST), while open market exchange dealers adjust rates periodically to reflect supply and demand.
Disclaimer: Exchange rates displayed on CheckPrice.pk are compiled from official market sources and exchange company associations. Actual retail rates may vary slightly depending on branch location and transaction volume.
