Dollar Rate Today in Pakistan: Complete Guide to USD/PKR Exchange Rates

The dollar rate in Pakistan today stands at PKR 284.90 in the interbank market and PKR 287.20 in the open market. This 2.30 rupee gap reflects ongoing currency market dynamics, with buying rates ranging from PKR 286.50 to PKR 287.50 across major cities.

Getting caught between rate swings that change by the hour isn’t easy. One moment you’re planning a dollar exchange, the next you’re wondering if you should wait for a better rate. The constant confusion between interbank, open market, and bank rates makes it even harder to know which number actually matters for your transaction.

We’ve all been there – standing at a money exchange counter, unsure if we’re getting the right rate or paying hidden fees. Regional differences mean what works in Karachi might cost you more in Lahore. Delayed official announcements leave you guessing, while parallel market rates create even more uncertainty.

That’s exactly why we’ve created this complete guide. Whether you’re an overseas Pakistani sending remittances, a business owner managing imports, or someone simply trying to get the best exchange rate, this guide cuts through the confusion. You’ll get real-time rate comparisons, city-wise breakdowns, and practical tips to save money on every dollar exchange.

Current Dollar Rates (Live Data Section)

Today’s Interbank Rate

The official interbank rate stands at PKR 284.90 per USD as of July 23, 2025. This rate serves as the benchmark for all formal banking transactions. Commercial banks use this as their base rate before adding their spread.

The 30-day performance shows a high of PKR 285.75 and a low of PKR 283.60, indicating relatively stable movement. The average rate over the past month was PKR 284.52.

Open Market Rates by City

City	Buying Rate	Selling Rate	Spread
Karachi	PKR 286.50	PKR 287.50	PKR 1.00
Lahore	PKR 286.75	PKR 287.75	PKR 1.00
Islamabad	PKR 287.00	PKR 288.00	PKR 1.00
Rawalpindi	PKR 287.25	PKR 288.25	PKR 1.00
Faisalabad	PKR 286.50	PKR 287.50	PKR 1.00
Multan	PKR 286.75	PKR 287.75	PKR 1.00
Peshawar	PKR 287.50	PKR 288.50	PKR 1.00

Current open market rates average around PKR 287.20, with slight variations across cities. Northern cities typically show slightly higher rates due to transportation costs and local demand patterns.

Buying vs Selling Rates

The difference between buying and selling rates represents the exchange company’s profit margin. Most reputable dealers maintain a PKR 1.00 to PKR 1.50 spread per dollar.

Buying Rate: The price at which dealers purchase dollars from you
Selling Rate: The price at which dealers sell dollars to you

Smart tip: Always ask for both rates upfront. A wider spread often indicates either higher operational costs or profit margins.

Historical 30-Day Trends

Recent data shows the USD/PKR has gained 0.30 PKR in the last 30 days, with a monthly average of PKR 284.52. This represents a relatively stable period compared to the volatile swings seen in previous quarters.

Key trend observations:

Daily fluctuations rarely exceed PKR 0.50
Weekly patterns show Monday highs due to weekend demand buildup
Month-end pressures from import payments create temporary spikes

Understanding Exchange Rate Types

Interbank vs Open Market Rates

The interbank rate is where banks trade with each other. The IMF has mandated that the gap between interbank and open market rates cannot exceed 1.25% during any consecutive 5-business-day period. With current rates around PKR 287, this translates to approximately PKR 4 maximum difference.

Why the difference exists:

Supply and demand dynamics in retail markets
Risk premiums for cash transactions
Operational costs of physical exchange businesses
Regional accessibility factors

Historical data shows this gap has previously widened to over PKR 24 during periods of economic uncertainty, but current regulations keep it much tighter.

State Bank of Pakistan Official Rates

The State Bank of Pakistan (SBP) sets reference rates used for:

Government transactions
Official trade documentation
Regulatory compliance reporting
Banking sector guidance

These rates typically align closely with interbank rates but may lag during rapid market movements.

Commercial Bank Rates

Major banks add their own spreads to interbank rates:

Bank	USD Buying	USD Selling	Spread
HBL	PKR 284.50	PKR 286.00	PKR 1.50
UBL	PKR 284.40	PKR 286.10	PKR 1.70
MCB	PKR 284.60	PKR 285.90	PKR 1.30
ABL	PKR 284.45	PKR 286.05	PKR 1.60
Standard Chartered	PKR 284.30	PKR 286.20	PKR 1.90

Note: Rates updated as of July 24, 2025, 9:00 AM PKT

Banks typically offer less competitive rates than dedicated exchange companies but provide additional services like wire transfers and documentation.

Money Exchange Company Rates

Licensed exchange companies generally offer:

Better rates than banks
Faster service
Lower documentation requirements
Bulk transaction discounts

Top-rated exchange companies maintain spreads between PKR 0.75 to PKR 1.25 per dollar.

Factors Influencing Dollar Rates in Pakistan

Economic Indicators and Inflation

Pakistan’s inflation rate directly impacts dollar demand. When local prices rise faster than international levels, import demand increases, putting pressure on the rupee.

Current economic factors:

Inflation Rate: Running above 25% annually
Interest Rates: SBP policy rate at 22%
GDP Growth: Projected at 2.5% for FY 2025

Higher inflation typically weakens the rupee as purchasing power declines relative to the dollar.

Foreign Remittances Impact

Overseas Pakistani remittances are crucial for dollar supply in the local market. Monthly remittance flows averaging $2.5 billion help stabilize exchange rates.

Peak remittance months (Ramadan, Eid periods) often show:

Increased dollar supply
Temporary rate improvements
Higher competition among exchange companies

Oil Prices and Import Dependency

Pakistan imports over 85% of its oil requirements. Higher global oil prices directly increase dollar demand for energy imports.

Current Impact: With crude oil around $85/barrel, Pakistan’s monthly oil import bill exceeds $1.2 billion, creating consistent dollar demand pressure.

Government Policies and Foreign Reserves

Current foreign exchange reserves influence market confidence and rate stability. The SBP’s reserves currently stand at approximately $8 billion, covering about 1.8 months of imports.

Policy tools affecting rates:

Import restrictions on non-essential items
Export incentive schemes
Foreign investment facilitation
Currency intervention operations

Global Market Conditions

International dollar strength affects all emerging market currencies. The Dollar Index (DXY) movements directly correlate with PKR pressure.

Historical Analysis & Trends

5-Year Dollar Rate Evolution

Year	Average Rate	High	Low	Volatility
2021	PKR 160.50	PKR 168.40	PKR 152.70	9.8%
2022	PKR 204.86	PKR 239.94	PKR 178.05	34.7%
2023	PKR 286.78	PKR 307.10	PKR 262.40	15.6%
2024	PKR 278.45	PKR 298.93	PKR 267.89	11.2%
2025 YTD	PKR 284.32	PKR 285.75	PKR 278.65	2.5%

The data shows 2022 as the most volatile year, with the rupee depreciating over 27% during the economic crisis period.

Major Economic Events Impact

Key Events and Rate Responses:

IMF Program Agreement (2023): Rates stabilized from PKR 307 to PKR 285 range
Flood Impact (2022): Massive depreciation due to reconstruction import needs
COVID-19 (2020-2021): Initial strength followed by gradual weakness
FATF Grey List Removal (2022): Temporary improvement in investor confidence

Seasonal Patterns and Predictions

Seasonal Trends Observed:

January-March: Stronger rupee due to tax payment cycles
April-June: Pressure from import payments and agriculture inputs
July-September: Remittance boost during Hajj season
October-December: Mixed trends based on global economic conditions

2025 Prediction Factors:

IMF program compliance
Global commodity price trends
Regional geopolitical stability
Export performance improvement

Comparison with Regional Currencies

Currency	Current Rate vs USD	1-Year Change
Pakistani Rupee	284.90	-2.1%
Indian Rupee	83.45	+1.2%
Bangladeshi Taka	117.80	-0.8%
Sri Lankan Rupee	298.50	+15.2%
Turkish Lira	34.25	-8.5%

Pakistan’s rupee has shown relative stability compared to regional peers, particularly against the volatile Turkish Lira and recovering Sri Lankan Rupee.

Currency Exchange Guide

Best Places to Exchange Currency

Top-Rated Exchange Options:

Licensed Exchange Companies
- Better rates than banks
- Faster processing
- Locations: Major markets and commercial areas
Commercial Banks
- Secure transactions
- Proper documentation
- Wire transfer facilities
Hotel Exchange Counters
- Convenient but expensive
- Usually 2-3% above market rates
- 24/7 availability in major hotels
Airport Exchange
- Emergency use only
- Highest spreads (3-5% above market)
- Limited operating hours

Documentation Requirements

For Exchange Companies:

Valid CNIC or passport
Purpose declaration for amounts above $500
Source of income proof for large transactions

For Banks:

Account relationship required
Detailed documentation for amounts above $2,500
24-48 hour processing for large amounts

For Overseas Pakistanis:

Passport and visa
Remittance receipt (if applicable)
Foreign exchange declaration

Tips for Getting Better Rates

Rate Shopping Strategy:

Check rates at 3-4 different sources
Call ahead for large transactions
Avoid end-of-day rushes when rates may be less favorable
Consider timing based on weekly patterns

Negotiation Tips:

Bundle transactions for better rates
Ask about loyalty programs
Inquire about next-day rate holds
Compare total costs, not just rates

Timing Considerations:

Monday mornings often offer competitive rates
Avoid month-end when demand peaks
Monitor global markets for favorable timing
Consider dollar-cost averaging for large amounts

Online vs Physical Exchange

Online Exchange Platforms:

Advantages: Better rates, convenience, tracking
Disadvantages: Processing delays, verification requirements
Best For: Planned transactions, tech-savvy users

Physical Exchange:

Advantages: Immediate settlement, negotiation opportunity
Disadvantages: Time investment, limited hours
Best For: Urgent needs, cash transactions

Hybrid Services:

Rate locking online with physical pickup
Mobile apps with store locations
Home delivery for verified customers

Investment and Business Implications

Impact on Import/Export Business

Import Business Considerations:

Hedging Strategies: Forward contracts to lock rates
Payment Timing: Optimize based on rate forecasts
Supplier Terms: Negotiate rupee pricing where possible

Export Business Advantages:

Stronger dollar improves rupee receipts
Natural hedge against domestic inflation
Competitive pricing in international markets

Cost Management Tips:

Maintain foreign currency accounts
Use letters of credit for rate protection
Consider currency swaps for long-term needs

Foreign Investment Considerations

For Foreign Investors:

Entry timing affects investment value
Currency hedging options available
Consider our detailed analysis of Pakistan’s investment climate for diversification
Repatriation policies and procedures

For Pakistani Investors Abroad:

Dollar strength reduces international purchasing power
Timing of overseas investments becomes crucial
Consider currency-hedged investment products

Hedging Strategies for Businesses

Available Instruments:

Forward Contracts
- Lock rates for future dates
- Minimum amounts: $25,000
- Tenure: 1-12 months
Currency Options
- Protect against adverse moves
- Premium-based cost structure
- Flexibility to benefit from favorable moves
Currency Swaps
- Exchange currencies with reversal agreement
- Useful for temporary needs
- Bank arrangement required

Remittance Optimization

Best Practices for Overseas Pakistanis:

Compare services beyond just exchange rates
Factor in transfer fees and delivery time
Use dedicated remittance channels for better rates
Consider bulk transfers during favorable periods

Popular Remittance Channels:

Bank-to-bank transfers
Money transfer operators (Western Union, etc.)
Digital remittance services
Exchange company partnerships

For more insights on managing currency risks alongside precious metal investments, explore our comprehensive gold rate analysis to understand portfolio diversification strategies.

Tools and Resources

Currency Converter Calculator

Essential Features to Look For:

Real-time rate updates
Historical rate comparisons
Multiple currency support
Offline calculation capability

Recommended Calculators:

SBP official calculator
XE Currency Converter
Wise Currency Converter
Bank-specific tools

Rate Alert Setup

SMS Alert Services:

Most banks offer free rate alerts
Set target rates for buying/selling
Daily rate summary messages
Breaking news on major movements

Email Notifications:

Weekly rate summaries
Market analysis reports
Economic calendar alerts
Expert commentary subscriptions

Mobile Apps for Tracking

Top-Rated Apps:

CurrencyConverter Plus
- Offline functionality
- Historical charts
- Multiple exchange rate sources
XE Currency
- Live rates
- Rate alerts
- Transfer services integration
Wise (formerly TransferWise)
- Multi-currency accounts
- International transfer rates
- Business solutions
Bank-Specific Apps
- Account integration
- Transaction history
- Personalized rates

Official Sources and References

Government Sources:

State Bank of Pakistan (www.sbp.org.pk)
Federal Board of Revenue
Ministry of Finance economic surveys

Market Data Providers:

Forex Association of Pakistan
Pakistan Stock Exchange
Reuters Pakistan
Bloomberg Pakistan

Research and Analysis:

Pakistan Institute of Development Economics
Sustainable Development Policy Institute
Business Recorder analysis
Dawn Economic updates

For comprehensive market analysis including precious metals as alternative investments, check our detailed silver rate tracking and white gold pricing trends.

FAQs

The optimal exchange timing depends on your specific needs and market conditions. Generally, Monday mornings offer competitive rates as markets reset after the weekend. Mid-week typically shows stable pricing, while month-end periods see increased demand and higher rates. For large amounts, consider dollar-cost averaging rather than timing the market perfectly.

Rate variations occur due to several factors: operational costs, profit margins, risk premiums, and supply-demand dynamics. Banks typically offer less competitive rates due to regulatory costs and infrastructure expenses. Exchange companies operate with lower overheads and can offer better rates. Geographic location also matters – rates in major commercial centers like Karachi are often more competitive than smaller cities.

Set up rate alerts through your bank’s mobile app or SMS service for target levels. Use reliable financial apps like XE Currency or Wise for real-time tracking. Subscribe to economic newsletters from reputable sources like Business Recorder or Dawn. Follow the State Bank of Pakistan’s official announcements for policy changes that impact rates.

For amounts under $500, a valid CNIC is usually sufficient. Larger transactions require purpose declarations and source of income verification. Licensed exchange dealers must maintain transaction records. Overseas Pakistanis need passport and visa documentation. Avoid unlicensed dealers to prevent legal complications and ensure proper documentation for your transactions.

Global events create ripple effects through multiple channels. US Federal Reserve policy changes directly impact dollar strength worldwide. Oil price fluctuations affect Pakistan’s import bill and dollar demand. Regional geopolitical tensions can drive safe-haven dollar demand. International commodity prices influence Pakistan’s trade balance. Global investor sentiment toward emerging markets affects capital flows and currency stability.

The buying rate is what dealers pay you for dollars, while the selling rate is what they charge you to buy dollars. This spread represents the dealer’s profit margin and operational costs. Typical spreads range from PKR 0.75 to PKR 1.50 per dollar for reputable dealers. Wider spreads often indicate higher costs or profit margins. Always ask for both rates before committing to any transaction.

Yes, especially for larger transactions. Exchange companies often have flexibility on rates for amounts above $1,000. Building a relationship with a dealer can lead to better rates over time. Bundling multiple transactions or committing to regular exchanges can improve your negotiating position. However, be realistic – legitimate dealers work with thin margins and can’t deviate significantly from market rates.

Remittances provide crucial dollar supply to Pakistan’s market. Higher remittance flows typically improve rates by increasing dollar availability. Seasonal patterns around Ramadan and Eid show temporary rate improvements. Government incentives for official remittance channels help stabilize market rates. The monthly $2.5 billion average in remittances significantly impacts overall market dynamics.

Always use licensed dealers – check their authorization with the State Bank of Pakistan. Avoid deals that seem too good to be true, as they often involve counterfeit currency or fraudulent practices. Verify rates through multiple sources before large transactions. Keep all transaction receipts and documentation. Report any suspicious activities to relevant authorities. Use bank transfers rather than cash for large amounts when possible.

Consider your priorities: banks offer security but higher costs, exchange companies provide better rates with moderate convenience, and online services offer the best rates but require advance planning. For urgent needs under $500, local exchange companies work best. For large amounts or international transfers, banks provide better security and documentation. Online services suit planned transactions where timing isn’t critical.