Currency in Pakistan: PKR Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Pakistan with the Pakistani rupee.
What's in this Pakistan currency guide?
What currency is used in Pakistan?
The official currency of Pakistan (country code: PK) is the Pakistani rupee, with symbol ₨ and currency code PKR.
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Frequently Asked Questions
What currency should I use in Pakistan?
The domestic currency in Pakistan is the Pakistani rupee.
What is the Pakistani rupee currency code and symbol?
The three letter currency code for the Pakistani rupee is PKR — symbol is ₨.
What doe the Pakistani rupee look like?
Here is an example Pakistani rupee banknote:
Which countries use the Pakistani rupee?
It is the domestic currency in Pakistan.
Is the Pakistani rupee a closed currency?
No, the Pakistani rupee is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and PKR?
Here are some popular conversion amounts for USD to PKR (US dollar to Pakistani rupee)*.
*Converted at the current USDPKR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Pakistani rupee
The Pakistani rupee (PKR) is the official currency of Pakistan, a country located in South Asia. Here are a few things to know about the Pakistani rupee:
- The Pakistani rupee is abbreviated as PKR and is divided into 100 paisa.
- The State Bank of Pakistan is responsible for issuing and regulating the Pakistani rupee.
- The exchange rate for the Pakistani rupee is determined by supply and demand in the foreign exchange market.
- Pakistan has a mixed economy, with a significant public sector and a large agricultural sector. The country is also a major producer of textiles, and has a growing service sector.
- The Pakistani rupee has experienced significant depreciation in recent years due to economic challenges such as high inflation and a large trade deficit. In addition, Pakistan has faced political instability and conflict, which have also had an impact on the value of the Pakistani rupee.
Travel money for Pakistan
Using Wise for Pakistani rupee travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Pakistani rupee otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Pakistani rupee cash before departure, you can save money by ordering online. You generally get better rates and can pick up the PKR cash locally or even on travel day at the airport.
Pakistan: Travel Guide
Traveling to Pakistan requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
For travelers, Pakistan is a land of contrasts. The country is home to some of the world’s tallest mountains, as well as the Thar Desert. It is also a place with a rich history and culture, having been home to the Indus Valley Civilization and being the birthplace of the Mughal Empire.
Pakistan is a diverse country, with different ethnic and linguistic groups. The major languages spoken in Pakistan are Urdu, Punjabi, Sindhi, Pashto, and Balochi. The country is also home to a number of different religions, including Islam, Christianity, Hinduism, and Sikhism.
The capital of Pakistan is Islamabad, and the country’s largest city is Karachi. Other major cities include Lahore, Faisalabad, Rawalpindi, and Peshawar.
Pakistan is a country with a lot to offer travelers. From its stunning landscapes to its rich history and culture, there is something for everyone in Pakistan.
Best things to do and see in Pakistan
1. Visit the Badshahi Mosque and Lahore Fort in Lahore.
2. Take a trip to the Khyber Pass.
3. Explore the ruins of the ancient city of Mohenjo-Daro.
4. Go on a safari in the Chitral District.
5. Trek to the base camp of K2, the second highest mountain in the world.
6. Visit the Fairy Meadows, a naturally beautiful meadow located in the Hunza Valley.
7. Take a jeep tour of the upper Hunza Valley.
8. Go white water rafting in the Indus River.
9. camping and fishing in one of the many alpine lakes in Pakistan.
10. visiting the Hunza Valley in the springtime to see the spectacular blooming of the apricot trees.
Top Travel tips for Pakistan
1. When traveling to Pakistan, it is important to dress conservatively and respect local customs and traditions.
2. Travelers should be aware of their surroundings at all times and take precautions against possible terrorist attacks.
3. It is also advisable to register with your embassy or consulate before traveling to Pakistan.
4. Pakistan is a cash-based society, so it is important to have plenty of local currency on hand.
5. Finally, travelers should always purchase travel insurance before visiting Pakistan.
What currency to use in Pakistan?
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. ATMs will only 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.
ATMs 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 to 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.
Is it safe in Pakistan?
Pakistan is a safe country to live in. The crime rate is low, and the people are friendly and hospitable. There is no need to worry about safety in Pakistan.
USD/PKR Market Data
The below interactive chart displays the USD/PKR change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Pakistan - Best Rates
To get a good (and fair) exchange rate when sending money to Pakistan you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers 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 4 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.
Use the above calculator to compare the exchange 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 and less margins and fees kept by the banks!
Managing money while living and working in Pakistan
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Pakistani rupee currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the PKR exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Pakistani rupee bank account: A local PKR bank account can make it easier for you to manage your finances and pay bills while you are in Pakistan. It may also be more convenient to use a local PKR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Pakistan. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Pakistan. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Pakistan, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Pakistan.
What is the cost of living in Pakistan?
There is no definitive answer to this question as the cost of living in Pakistan can vary greatly depending on the individual's lifestyle and location. However, according to The Economist's Worldwide Cost of Living Survey, Pakistan is the 47th most expensive country in which to live.
How is the expat life in Pakistan?
Expat life in Pakistan can be incredible rewarding. The country has a rich culture and history, and the people are warm and welcoming. There are many opportunities to get involved in the community, and the cost of living is relatively low. However, there are also some challenges that come with living in Pakistan. The infrastructure can be challenging, and the political situation is unstable. There is also a high risk of crime and terrorism.
Any laws in Pakistan that foreigners should be aware of?
The legal system in Pakistan is based on English common law, with some influences from Sharia law. Sharia law is used in personal law cases relating to marriage, divorce, inheritance, and custody. There are some restrictions on freedom of speech and the press. Blasphemy is a criminal offense, and there have been instances of mob violence against those accused of blasphemy. There have also been reports of forced conversion to Islam, especially of Hindu and Christian girls. Foreign nationals should be aware of these laws and respected them.
What is doing business like in Pakistan?
Doing business in Pakistan can be a challenge. Despite recent reforms, the business environment remains difficult, with corruption, red tape, and weak rule of law posing significant hurdles. Businesses also report power shortages and difficulty accessing financing.
How is the economy in Pakistan?
The economy in Pakistan is developing. The country has a young population and unemployment is a major challenge. The GDP per capita is growing, but is still low compared to other countries in the region. The government is working to improve infrastructure and attract foreign investment.