As of the time this was written, the exchange rate is 157.7450 Pakistani Rupees (PKR) per American Dollar (USD). The average exchange rate over the last 90 days was 156.7777 PKR per USD. The 90-day high was 163.5001 PKR per USD, while the 90-day low was 146.1599 PKR per USD.
The volatility of the Pakistani Rupee was 0.38% against the American Dollar over the last 90 days. You can reasonably expect these mild fluctuations to remain consistent going forward, barring unforeseen circumstances.
If you’re looking for speed, Ria Money Transfer offers your best option. You’ll notice that Ria Money Transfer charges quite a high fee, but if you look closely, they offer among the best exchange rates for Pakistan. When compared with Xoom, the most similar competitive option, Ria Money Transfer ends up being cheaper when hidden conversion costs are considered. Of course, it is also a very fast option, and you can expect your money to reach its destination in Pakistan in a matter of minutes.
If you are sending regular, small amounts of money, the cheapest way to transfer money to Pakistan is through UFX (formerly USForex). They don’t charge any upfront fees and they offer incredibly low currency conversion rates. Unfortunately, this only applies if you are in the US, but you can still expect a great deal from UFX in Europe, Canada, or Australia.
The second option is TransferWise. TransferWise offers the most generically good deal out of all the options. If you are sending funds to Pakistan from the US, you don’t pay hidden currency conversion costs! They charge a flat rate for sending money, so if you are sending anywhere from $500-1000 USD to Pakistan at once, you are definitely getting a better deal with TransferWise.
When it comes to ease of use and convenience, Payoneer often comes out on top. Payoneer is a great and easy option to transfer funds to Pakistan. They offer convenient options such as sending money directly to a debit card, allowing the recipient to immediately withdraw the money. Of course, they also offer options for direct deposits into personal bank accounts.
Keep in mind that when it comes to Payoneer, they are offering you ease of use and convenience in exchange for more of your money. Their upfront fees are very low, but they will devour your money with their hidden currency conversion fees! In some cases, this can add another 2.8% to the total cost of sending money!
The overall best way to transfer funds to Pakistan is through TransferWise. While they don’t offer the fastest or most convenient service, they perform reasonably on these fronts. However, they also happen to be the cheapest option in the majority of cases, so in the end, there is very little to complain about. TransferWise offers a great deal for sending money to Pakistan as well as to other places including China and India.