The open market currency rates in Pakistan change daily based on international demand, foreign inflows, and economic activity. Knowing the latest dollar, euro, and pound rates helps individuals, travelers, and businesses make informed financial decisions. This article covers today’s exchange rates, including open market, interbank, and State Bank of Pakistan (SBP) updates.
Today’s Open Market Currency Rates in Pakistan 2025 (October 21)
As of today, the following are the average open market rates for major currencies (rates may slightly vary by city and exchange company):
| Currency | Buying Rate (PKR) | Selling Rate (PKR) |
| US Dollar (USD) | 279.50 | 282.00 |
| Euro (EUR) | 297.80 | 300.20 |
| British Pound (GBP) | 353.00 | 356.00 |
| UAE Dirham (AED) | 76.00 | 76.70 |
| Saudi Riyal (SAR) | 74.30 | 75.00 |
| Canadian Dollar (CAD) | 205.00 | 208.50 |
| Australian Dollar (AUD) | 180.00 | 183.00 |
| Kuwaiti Dinar (KWD) | 909.00 | 918.00 |
| Qatari Riyal (QAR) | 76.80 | 77.60 |
Note: Rates are subject to change during the day depending on international forex movement and local market demand.
What Is the Open Market Rate?
The open market rate refers to the exchange rate used by money changers and exchange companies in Pakistan for buying and selling foreign currency. It often differs from the interbank rate, which is set by commercial banks under the supervision of the State Bank of Pakistan.
In simple terms:
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- Open market rate: For individuals exchanging cash.
- Interbank rate: For banks and financial institutions.
State Bank of Pakistan Exchange Rate
The State Bank of Pakistan (SBP) publishes the official interbank exchange rate every working day. These rates are used for bank transactions, imports, and remittances.
The SBP rate is usually 1–2 rupees lower than the open market rate because it excludes service fees and profit margins charged by currency exchangers.
For accurate and official updates, visit the SBP Exchange Rate Portal at www.sbp.org.pk.
Interbank vs Open Market Rate
The interbank rate is primarily for banks, while the open market rate is for the public.
Key differences include:
- Purpose: Interbank is for financial institutions; open market is for individuals.
- Rate Variation: Open market rates are slightly higher due to profit margins.
- Frequency: Interbank rates change once daily; open market rates fluctuate throughout the day.
Understanding both helps when sending remittances, buying travel currency, or importing goods.
Factors Affecting Currency Rates
Currency rates in Pakistan fluctuate due to several economic and global factors:
- US Dollar demand and supply in the market.
- Inflation and interest rate trends.
- Remittance inflows and foreign investments.
- Trade balance and import bills.
- Political and global market stability.
These factors collectively determine the daily open market currency rate in Pakistan.
Why the Open Market Rate Matters
The open market rate is essential for:
- Overseas Pakistanis sending money home.
- Importers and exporters dealing in foreign trade.
- Travelers purchasing foreign currency for trips abroad.
- Freelancers and online earners converting foreign payments into PKR.
It directly affects business operations, inflation, and consumer purchasing power.
Conclusion
The open market currency rates in Pakistan today provide a clear picture of the country’s financial trends and economic stability. Keeping track of both open market and interbank rates helps individuals and businesses plan better for foreign transactions. Always verify rates from authorized exchange companies or the State Bank of Pakistan before buying or selling currency.
