Converting GBP to PKR? Let’s get into the nitty-gritty of it.
How much is GBP worth in PKR?
Exchange rates fluctuate. The current rate for one GBP sits between 350 and 360 PKR. It won’t take long to find out if you think you need it.
How does a currency converter operate?
For converting GBP into PKR, you can use various currency converters. Local banks secure market rates, meaning you will pay them with additional charges, then they will charge your receiver their conversion fees, then you've got less PKR than you thought.
What’s the alternative?
Explore crypto. Easier to work with and cheaper to use. Traditional banks offer hidden fees that can be enormous, plus they often take ages to get the currency transferred. Crypto, however, will take minutes and at times, even seconds.
Is crypto worth the risk?
While crypto is fast and cheap, it has massive volatility attached. Security is an issue too; many wallets and exchanges are susceptible to hacking. Look out for limited acceptance since crypto isn’t adopted everywhere.
How can you handle fees better?
The best option for saving money on transfers is to always monitor both the rates being offered and the time the transaction can be executed. Also, try using services that don’t charge on top of the already inflated market rates.
How often can you convert GBP to PKR?
Once again, it all depends on the token you trade. Certain times, you can convert GBPs into PKRs at any time, sometimes once every 24 hours. Buy bulk, and you’ll always have the right currency at hand.
Final thoughts
Ignoring the traditional methods and focusing on crypto will save considerably more money. The risk/reward ratio is tricky. Take care.
