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Pakistan Revenue reported that the Pakistani rupee closed at Rs277.01 per US dollar on Thursday, Oct. 8, 2026, up one paisa from Rs277.02 the previous day. This is the reported interbank close, not a guaranteed rate for a customer exchanging cash or sending money.
What was the USD to PKR interbank rate on Oct. 8?
Pakistan Revenue reported an Oct. 8 interbank closing rate of Rs277.01 per US dollar, compared with Rs277.02 on Wednesday, Oct. 7. The change was an appreciation of one paisa (Rs0.01). Pakistan Revenue says it cited the State Bank of Pakistan (SBP); the exact observation was not independently confirmed against an underlying SBP rate file.
The date matters: exchange rates vary by session and by the series being reported. This figure is a reported close, not an intraday quote or a promise about the price available to an individual customer.
How to read the rate and the prior-day quotes
Business Recorder’s report for the Oct. 7 session listed an opening bid of Rs277.02 and an opening offer of Rs277.22 per dollar. These are prior-session opening quotes, not the Oct. 8 close. The 20-paisa gap is the difference between the quoted buying and selling sides; it does not establish one rate available to every customer.
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- Bid: the quoted buying side of a currency pair.
- Offer: the quoted selling side.
- Close: a rate reported for the end of a trading session; it is not necessarily the rate a customer can execute later.
When comparing figures, check the market channel, quote side, date and time, and the publisher or provider. A bid, offer, closing rate, weighted average, and cash-counter price are different kinds of quotes.
Interbank rates are not cash-exchange rates
Interbank pricing refers to transactions between banks. An open-market cash quote is the price a customer may be offered at a currency counter. The two answer different questions, and a counter’s buying and selling prices may differ from an interbank benchmark.
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For a transaction, check a dated quote directly with a licensed provider shortly before exchanging or transferring money. Compare the applicable buy or sell rate and any fees. A benchmark interbank close alone does not tell you how many rupees a provider will pay or charge.
What SBP’s published rate series can—and cannot—confirm
SBP’s Economic Data catalog lists several daily series, including Mark-to-Market Revaluation Exchange Rates, Weighted Average Customer Exchange Rates, and Open Market Closing Exchange Rates. The catalog displays Oct. 8 dates for the first two and an Oct. 7 date for open-market closing rates. These series are not interchangeable, and a catalog listing by itself does not verify the specific Rs277.01 observation.
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To check an official figure, identify the series and its observation date rather than treating every SBP exchange-rate dataset as an interbank close or customer quote.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the rupee moved
Pakistan Revenue described the one-paisa gain as occurring amid smooth external inflows and reported that experts viewed reserves and workers’ remittances as support for the rupee. That is context attributed to the report, not evidence that those factors caused this specific day’s small move. One session’s change does not establish a longer-term trend.
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