Foreign Exchange Guide to Pakistan
In this guide we review :
- Pakistani rupee info - general info about the Pakistani rupee
- Travelling in Pakistan - currency & money saving tips
- Buying Pakistani rupee cash online - travel money for Pakistan
- Sending money to Pakistan - save on Pakistani rupee bank transfers to Pakistan
- Pakistani rupee exchange rates - latest info & charts.
Pakistani rupee (PKR) general currency information
Pakistan currency and money saving tips
Pakistan is often avoided due to political instability. The official currency of Pakistan is the Pakistani Rupee (PKR). If you want to exchange currency within Pakistan US Dollars and Euros are usually mostly accepted. Airports have 24 hour exchange bureaus, and hotels will often exchange cash, both however will usually charge a 3% charge. Banks also offer rather poor rates, making using an ATM the quickest, cheapest and most convenient way to get hold of cash. ATM's will ony accept chip enabled cards, not ones with only a magnetic strip on the back.Always make sure you have the newer, undamaged notes, as otherwise they won’t be accepted.
ATM's are usually easily available all through Pakistan, however in country areas they are not always reliable. So if you intend to leave the cities be sure t have some cash in hand. In Pakistan, it is mostly expected to use cash so cards are widely unaccepted. Make a point of letting your bank know you are going to be travelling in Pakistan to avoid your card being blocked by your bank, due to card fraud being high in this region.
Public transport is not considered safe for foreigners, air travel is somewhat safer. A number of original forms of ID are required however, copies will not be accepted.
Pakistan Trip Checklist
Travel money for Pakistan
Save money and time by Ordering your Pakistani rupee online from Travelex, you get better rates and can pick up the PKR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Pakistani rupee otherwise you may get much worst exchange rates.
Sending money to Pakistan
When sending money to Pakistan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Pakistani rupee amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted PKR amount will be transfered to the recipient account you specify in Pakistan.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Pakistani rupee deposited into the recipient bank account in Pakistan and less margins and fees kept by the banks!