Below is a selection of excellent drawing paper with the best value for money. They are equally suited for graphite as well as charcoal.

Drawing papers

The surface of the paper determines the fineness of detail and the range of tonal values an artist is able to create. The coarser the paper, the greater the abrasion of the graphite or charcoal, but the less detail work is possible.
There are also papers that have marks caused by the manufacturing process. This is difficult to compensate or to cover in the process of drawing.
For this reason, only three different types of paper are listed here, all of which have a uniform structure, sufficient tooth, excellent resistance and archival properties.

But it says ‘watercolor’?

Papers that are labelled as watercolor paper do not necessarily have to be suitable for this one medium only. The same is true for papers that are labelled as ‘Pastel’. Properties, such as the tooth or the erasability, that a paper has can also be useful for other media.
And this is the case, for example, with Arches Watercolor Hot Pressed Paper. This paper is recommended by many artists for drawing with pencil and charcoal, as it absorbs enough graphite or charcoal to achieve a wide range of tonal values, it is fine enough to draw small details and is sufficiently resistant to erasing.