Pakistan operates on the Pakistani Rupee (PKR), subdivided into 100 paisa. The State Bank of Pakistan issues banknotes in denominations of 10, 20, 50, 100, 500, 1000, and 5000 rupees. Coins exist in 1, 2, 5, and 10 rupee denominations, though paisa coins have effectively ceased circulation. The rupee symbol is Rs or ₨. The State Bank of Pakistan maintains the central banking function from its headquarters in Karachi, with regulatory offices in Islamabad, Lahore, Peshawar, Quetta, and Multan. Major commercial banks include Habib Bank Limited, United Bank Limited, MCB Bank, Allied Bank, National Bank of Pakistan, and Bank Alfalah. Foreign banks with physical presence include Standard Chartered, Citibank, and Bank Alfalah. Islamic banking operates as a parallel system through institutions like Meezan Bank, Dubai Islamic Bank Pakistan, and Al Baraka Bank, offering Sharia-compliant products accounting for approximately 18 percent of banking assets as of 2023.
ATMs are designated as Automated Teller Machines locally. International cards on the Visa, Mastercard, and UnionPay networks function at ATMs displaying corresponding logos. Daily withdrawal limits typically range from 25,000 to 50,000 rupees per transaction, with some machines capping at 20,000 rupees. Banks impose per-transaction fees averaging 200 to 400 rupees for foreign cards. ATM availability is dense in Islamabad, Lahore, and Karachi, with machines at branches of all major banks, shopping centers, petrol stations, and airports. Coverage decreases substantially outside metropolitan areas. Rawalpindi, Faisalabad, Multan, Peshawar, and Quetta have ATMs near commercial districts and major hotels. In Gilgit, Skardu, Hunza Valley, and Chitral, ATM access becomes unreliable. Hunza has ATMs in Karimabad, but they frequently run out of cash or lose connectivity. Skardu has machines at the National Bank of Pakistan and Habib Bank branches on Airport Road. Power outages called load shedding affect ATM functionality, particularly during summer months when scheduled blackouts can exceed eight hours daily in some regions.
Credit and debit cards see acceptance in Pakistan's urban commercial infrastructure but remain limited compared to cash transactions. Visa and Mastercard dominate the card network. Hotels rated three stars and above in Islamabad, Lahore, Karachi, and Rawalpindi accept cards. Chain restaurants, large supermarkets like Carrefour and Imtiaz, and shopping malls process card payments. Smaller restaurants, street vendors, intercity bus operators, and most retailers outside major cities operate cash-only. Contactless payment has expanded through Visa payWave and Mastercard contactless since 2019, but terminal availability remains concentrated in upscale establishments. Foreign-issued cards sometimes trigger fraud alerts from overseas banks due to Pakistan's risk classification. Informing your bank before travel prevents transaction blocks. Card skimming has been reported at older ATMs and smaller merchants. Using machines inside bank branches reduces this risk.
Currency exchange occurs through banks, licensed exchange companies, and hotel cashiers. Banks offer rates close to the interbank rate but involve paperwork and waiting periods. Authorized money changers operate in commercial areas of major cities, with concentrations on Mall Road in Lahore, Blue Area in Islamabad, and Saddar in Karachi. Exchange companies like Dolmen, Wall Street Exchange, and Zarco display rates publicly. Rates vary by 1 to 3 percent between companies. Hotels exchange currency at less favorable rates, typically 5 to 8 percent below market rates. Black market currency exchange exists but carries legal risk and the possibility of counterfeit notes. Pakistani law requires exchange receipts for reconversion of rupees when departing. Exchange counters exist at Jinnah International Airport in Karachi, Allama Iqbal International Airport in Lahore, and Islamabad International Airport, though rates are approximately 3 to 5 percent worse than city center locations. The rupee has depreciated steadily against major currencies. In January 2018, the exchange rate was approximately 110 PKR to 1 USD. By December 2023, this had moved to approximately 285 PKR to 1 USD, reflecting a cumulative depreciation exceeding 150 percent over five years.
Pakistan operates four major mobile network operators: Jazz (owned by VEON), Telenor Pakistan, Zong (owned by China Mobile), and Ufone (majority owned by Etisalat). Jazz is the largest operator with approximately 76 million subscribers as of 2023. Zong operates Pakistan's most extensive 4G LTE network. Telenor covers approximately 50 percent of Pakistan's geographic area. Network coverage is comprehensive in cities and along major highways. The Grand Trunk Road from Karachi through Lahore to Islamabad maintains consistent 3G and 4G coverage. The Karakoram Highway has intermittent coverage from Islamabad to Chilas, weak coverage from Chilas to Gilgit, and sparse coverage from Gilgit to Khunjerab Pass. Hunza Valley has functional 3G and 4G coverage in Karimabad and Gulmit. Skardu has coverage in the city center but loses signal in surrounding valleys. Deosai National Park has no mobile coverage. Chitral has coverage in Chitral town but not in the Kalash valleys. Remote areas of Balochistan including Hingol National Park and routes to the Iranian border lack coverage entirely.
Purchasing a SIM card in Pakistan requires biometric verification under regulations implemented in 2015. The Pakistan Telecommunication Authority mandates registration linking each SIM to a Pakistani national identity card or a passport with valid visa. The process involves visiting an official franchise or retail outlet of the chosen operator, presenting your passport and Pakistan visa, and providing thumbprint scans captured digitally. Photocopies of passport biographical pages and visa pages are retained. Sales staff upload this data to PTA databases. Activation typically completes within 2 to 6 hours but can take up to 24 hours. Tourist SIM packages exist at Jazz and Telenor outlets in airports. At Islamabad International Airport, SIM counters operate in the arrivals hall after customs. Jinnah International Airport in Karachi has counters past the arrivals gate. Allama Iqbal International Airport in Lahore maintains counters in the international arrivals section.
Prepaid packages dominate the Pakistani mobile market. Jazz offers a Tourist SIM bundle with 15 GB data, 1500 on-net minutes, and 500 off-net minutes for approximately 1000 rupees valid for 30 days. Telenor's comparable package provides 12 GB data with similar voice allocations for approximately 900 rupees. Zong emphasizes data packages with 20 GB offers around 800 rupees monthly. Data-only packages without voice minutes are available at lower prices. Recharging credit occurs through scratch cards purchased at small shops, mobile top-up through EasyPaisa and JazzCash payment platforms, or bank transfers. Data costs in Pakistan rank among the lowest globally. According to Cable.co.uk's 2023 study, Pakistan averaged $0.48 per gigabyte, placing it in the lower quartile internationally. 4G speeds average 15 to 20 Mbps on Jazz and Zong networks in cities, dropping to 5 to 10 Mbps in secondary cities. 3G remains the dominant standard outside urban centers.