Live currency converter — PKR, USD, AED, SAR and more
This currency converter fetches live exchange rates and converts between Pakistani Rupee (PKR), US Dollar (USD), UAE Dirham (AED), Saudi Riyal (SAR), British Pound (GBP), Euro (EUR), Indian Rupee (INR), Qatari Riyal (QAR), and other major currencies. Rates update automatically to reflect current market rates.
PKR exchange rate — what affects it
The Pakistani Rupee exchange rate against the US Dollar is primarily determined by Pakistan's current account balance, foreign exchange reserves held by the State Bank of Pakistan (SBP), remittances from overseas Pakistanis, and international trade patterns. The SBP maintains a managed float system where the rate is market-determined but may be influenced during periods of instability. Checking the SBP website or the interbank rate gives the official benchmark, though actual rates at exchange companies (sarafa) may differ by 1 to 3 percent.
Remittance conversion — PKR from abroad
Overseas Pakistanis sending money home typically get rates from banks, exchange companies, or digital services like Wise, Western Union, or Remitly. The interbank rate shown in this converter is the benchmark — actual rates offered to senders are slightly less favorable (the difference is the service provider's margin). Using official banking channels qualifies remittances for Pakistan's remittance incentive policies including tax exemption on such income.
Gulf currency rates — AED, SAR, QAR
The UAE Dirham (AED), Saudi Riyal (SAR), and Qatari Riyal (QAR) are all pegged to the US Dollar at fixed rates — AED at 3.6725, SAR at 3.75, and QAR at 3.64 per USD. This means their exchange rates against PKR move in direct proportion to the USD/PKR rate. There is no exchange risk between these Gulf currencies and the USD, but all three fluctuate against PKR as the Rupee moves.
Frequently Asked Questions
Why does the exchange rate differ between banks? Banks add a spread (margin) above the interbank rate. This spread varies by bank, transaction size, and whether you are buying or selling foreign currency. Exchange companies (particularly in Karachi's Sarafa Bazaar) often offer rates closer to the interbank rate for large transactions.
What is the best time to convert currency? Currency rates fluctuate throughout the trading day. Major moves typically happen after significant economic announcements. For routine remittances, the rate on any given day is unlikely to move significantly enough to justify waiting.
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