Money Exchangers, Karachi
The Pakistani currency is Rupee. It is advisable to get local currency before you buy stuff in the city's store especially if you are buying small items that you need to pay cash.
Stop by and exchanged some dollars to rupees in banks. A number of licensed Currency Exchange Companies that operate their offices located in various part of the cities can be used for the exchange.
A passport might be required as an identification to exchange currency but it is often ignored. Big shopping establishment accept major credit cards but small shops prefer cash. ATMs exist in most areas and also accept major credit cards.
Did not need a lot of rupees though. Goods are inexpensive.
KKI - Khanani & Kalia International (Pvt) Limited has largest branches network in Karachi and other cities. It is the one of the oldest, ISO Certified and reputable Money Changer. Time to time rates are updated on their website and branch notice board.
You can Find Latest conversion Rates of popular forign Currencies against Pakistani Rupee Here: KKI Forex Rates - Karachi
KKI has several branches in Karachi. Check your nearest Branch Here: KKI BRANCHES, KKI FRANCHISE BRANCES
Website Links are: Forexpk.com, kkionline.com
Fondest memory: Some Important Branches are Listed Here:
Amber Pride, Shahrah-e-Faisal, P.E.C.H.S., Near Standard Chartered Bank, Karachi.
I.I Chundrigar Road Branch:
Bombay Hotel Building, Near Shaheen Complex, Karachi.
Shop# 1, Ground Floor, Marine Pride, Block-7, Clifton, Karachi.
Ruby Center Branch:
214 - 215, 2nd Floor, Ruby Centre, Opp. City Post Office, Talpur Road, Boulton Market, Karachi.
Suite # 1101-1105, 11th Floor, Block-A, Saima Trade Tower I. I. Chundrigar Road, Karachi-74200.
Fax: +92-21-2218094, 2218087
P. O. Box: 202
Websites: www.kkionline.com, www.forexpk.com
When you exchange money ask for plenty of 100 and 500 Rupee notes. This is a good amount to have when paying in the markets & street shops.
The Pakistani Rupee used to be divided into 100 Paisa; but as they were becoming unpopular the State Bank decided to no longer mint them. Pakistani Rupees now start from 1 Rupee up to 5000 Rupees. Currency notes used are 10, 50, 100, 500 and 1000.
The origin of the word "Rupee" is said to have its roots in the Sanskrit word "rup or rupa" meaning "silver".
Pakistan brought its own currency into circulation after the independence from British Rule in 1947. Funnily enough, in the very beginning Pakistan had to use Indian coins and notes and simply stamped "Pakistan" on them! The final transition to the country's official new currency was made a year later. Most banknotes show a portrait of Muhammad Ali Jinnah (founder of Pakistan) on the front along with writing in Urdu. The backsides have different images of buildings, etc. An Urdu text on banknotes is said to read "Earning a legal livelihood is parallel to prayer".
Fondest memory: You can find most good exchange bureaus in the financial district (near I.I. Chundrigar Road).
NOTE: most office, banks & exchange bureaus will demand that you switch-off your mobile phone for safety reasons.
Approximate Exchange Rates (January 2007):
1 UAE Dirham = 16 Rupees.
1 US Dollar = 60 Rupees.
1 EURO = 78 Rupees.
1 AUS Dollar = 48 Rupees.
1 CAN Dollar = 51 Rupees.
TIP: For good exchange rates our Pakistani friends recommended GLAXY Exchange Pvt Ltd. IIB Syed House, I.I. Chundrigar Road, Karachi.
Tel: 0092-21-111 425299 / 2630888
Favorite thing: The currency exchange offices are only within the city centre areas. The exchange rate varies from one place to other. There is always an option of haggle like any other third world country you can get better value for your money by just making a bit effort. All the major currencies could be exchange to local currency.