Friday, June 21, 2019
Thursday, June 06, 2019
How much was 1 USD to PKR in 1947 ?
This is a popular outrage these days on Social Media that how the Pakistan Rupee was equal to 1 US dollar on 14th, August 1947. Unfortunately, it
is not correct. Exchanging 1 USD to PKR in 1947 would not have got you 1
Rupee exactly. In 1947 when Pakistan got its independence, there were no
outside borrowings on the balance sheet of Pakistan thus the value of Pakistan Rupee was at parity with US Dollar. Since Pakistan was under British rule
Rupee was pegged to British Pounds.
Dollar and Rupee were never equal, nor in 1947, neither in any other century. When Pakistan got independence in 1947, it’s currency was pegged to Pound. The exchange rate was a shilling and six-pence for a Rupee and when you convert it, it works out to be around 13.33/Pound Sterling. So at the time of Pakistan’s independence, 1 GBP to PKR was equal to 13.33 Pakistan Rupees. One British Pound in 1947 was equal to 4.03 US Dollars and comparatively, 1 USD to PKR in 1947 was equal to Rs 3.31.
PKR Against US Dollar (1947 - 2024)
PKR Against British Pound (1947 - 2024)
* Updated till May 4th, 2024
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