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If you are making plans to travel to Pakistan in the near future, you may need to exchange some of your US dollars into rupees, the country’s official currency. The foreign currency symbol is PKR.
The rupee, issued through the State Bank of Pakistan, is available in denominations of 10, 20, 50, 100, 500, 1000 and 5000.
This article covers everything you want to know about converting USD to PKR, and adds where to get the most productive exchange rates and how to pay the highest fees on your conversion.
Calculating a USD to PKR conversion is straightforward. You can perform the conversion using a calculator or do it by hand.
Using a currency conversion calculator is the simplest way to get an estimate when converting currencies. Since exchange rates vary daily, using a calculator can ensure that your calculations are correct.
Keep in mind that currency exchange comes with additional payouts that a conversion calculator may not be able to predict. For example, credit card companies and ATM networks generally rate a 1% conversion payment on all foreign transactions. Individual merchants would possibly also qualify for more payments if you ask them to convert the value of an item to their local currency at checkout.
The other option is to perform the calculation manually with an undeniable mathematical formula. However, to do this, you want to know the existing exchange rate. At the time of writing, USD 1 has a value of PKR 225. 2.
Once you know this information, multiply the amount you have in USD by the existing exchange rate. The resulting number will tell you how many rupees you want to spend on your trip.
Suppose you have six hundred USD and would like to know how many rupees you have to travel to Pakistan. With the existing exchange rate, your conversion formula would look like this:
USD six hundred x 225. 2 = PKR 135 120
When you’re in a position to buy rupees, it’s a smart concept to plan ahead to make sure you pay the minimum fee. Here are 3 tactics to get the currency you want and minimize fees:
Next step: