USD to PKR: Dollar Rate Today in Pakistan- October 28, 2025

The US Dollar (USD) has appreciated a lot in Pakistan’s open currency market on today, October 28, 2025, as the exchange rate reached 283.40 Pakistani Rupee (PKR).

This exchange rate is usually the rate at which the public purchases foreign currency for travel, business, and personal use, and it tends to serve as a leading indicator of demand pressure. The trend in the open market during the last week has been volatile but undoubtedly upward-trending. Following episodes of stabilization at the 282.32 PKR level (Oct 24), the rate spiked, hitting an estimate of 283.30 PKR before rising to 283.40 PKR today.

This action implies that private or informal demand for the dollar is robust, translating into a premium above the interbank rate.

Valuation Criteria and Key Economic Impact

The open market USD/PKR rate is theoretically determined by the same two factors that determine the interbank rate—i.e., the nation’s requirement for dollars to pay for its trade deficit and servicing of external debt. But the open market valuation has an added element: the supply-demand relationship for physical cash dollars. Sustained rumors, doubts concerning political stability, or fears of future dollar restriction usually induce premature acquisition of physical dollars, which drives the open market rate higher than the interbank rate. Operations of currency exchange firms and successful regulation of smuggling and illegal currency transfer networks are also essential to maintaining the open market rate in conformity with official data.

A high open market rate of 283.40 PKR has a significant effect on micro and macro-level economics. Most importantly, it immediately converts into increased international travel, education abroad, and medical treatment costs, since people have to buy dollars at this higher rate. This further ignites inflationary expectations within the nation because open market sentiment significantly impacts general market sentiment.

The discrepancy between the interbank official rate and the open market rate (commonly known as the “premium”) can encourage hawala and hundi money transfer, thus channeling vital remittance funds outside formal banking systems. Though the official channel is well-stocked with dollars, the high open market price indicates ongoing absence of confidence or unsatisfied demand from the general public, and the State Bank of Pakistan (SBP) needs to stay tight-lipped to prevent illegal outflow and stabilize the parallel market.