Interbank, open market and remittance rates
Pakistan effectively has two rupee prices: the interbank rate (used by banks and published by the State Bank) and the open-market rate at exchange companies, which usually differs by a few rupees. If you are receiving remittances, you are entitled to the interbank-linked rate through official banking channels — money sent through hundi/hawala is illegal and risks the full amount. Freelancers receiving export-of-services income get an additional incentive rate through their bank’s special foreign currency account.
Why does Google show a different rate?
Google shows the mid-market (interbank) rate — the midpoint between buying and selling. It is the fairest reference rate, but no customer actually transacts at it; your bank’s spread is the difference.
The headline rate is only half the story. To compare two remittance services, multiply the amount you are sending by each service's actual customer rate, then subtract its fee — the service with the worse-looking rate sometimes delivers more rupees because it charges no fee. Three rules protect you: compare the total rupees received, not the advertised rate; send through official banking channels so the money arrives at the interbank-linked rate (and counts as a documented remittance, which matters for filer status and banking history); and never use hundi or hawala operators — the rate looks tempting, but the money is illegal to send that way and can be lost entirely with no recourse. Freelancers invoicing foreign clients face the same maths in reverse: a payment platform's spread of 1–2% quietly costs more than its visible fee on large invoices, so check the rate inside this currency converter against the SBP interbank rate before accepting a payout.