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
26 comments:
Where can I get this data in numeric form, preferably with more details on monthly or weekly basis
👍
It's my pleasure that I have seen this,RS=3.31 is equal to 1USD.
What was the exchange of Japanese Yun at that time i.e. 1947?
Dear Kashif
Japan adopted the yen as its currency unit in 1871. This was early in the Meiji era (1868–1912) when Japan was scrambling to turn itself into a modern nation-state that could deal with the Western powers on an equal footing. The new currency was set at a value of 1.5 grams of gold, on parity with the US dollar. In other words, the initial yen-dollar exchange rate was ¥1 = $1. The yen lost about half of its value against the greenback in the 1880s and 1890s, and it took another fall in the 1930s, declining to around a quarter of its original value in dollar terms. As of December 1941, when Japan went to war with the United States, the yen was worth $0.234, meaning an exchange rate of slightly over ¥4 to the dollar.
The real collapse in the yen’s value came after Japan’s 1945 defeat in the war. Tokyo and other major cities lay in ruins, the economy was in tatters, and inflation raged unchecked, robbing the currency of its worth. In 1949 a new official exchange rate was adopted: ¥360 to the dollar. The yen, which had started out in parity with the greenback in 1871 and was still worth almost a quarter of a dollar at the beginning of the 1940s, was at the end of the same decade worth a mere $0.0028, or about a quarter of a penny. The exchange rate expressed as yen per dollar, which had started at ¥1 and was in the vicinity of ¥4 as of 1941, turned into a three-digit number, ¥360, after the war.
where can i find exchange rate in 1960 to 2021
You can find your required data on the following link.
https://pakistanimage.com/economy/historical-usd-to-pkr-rates/
Dear Iftikhar Ahmed I appreciate your work on Pakistan Currency,
Please update the Timeline of USD to PKR till 30th June 2021 On Yearly basis from 1947-2021.
ADVICE TO PAKISTAN GOVERNMENT TO FIX USD AT 150 RS FOR 3 YEARS
AND FOR ALL EXPORT ITEMS AT LEAST 10 PERCENT REBATE ALLOWED
Dear brother if possible you could add also political party yearly date on day of selection thus we can aware of corruption history
Dear the information shared is history of a nation and we must understand its implications on our economy in just comming days.
Thanks
Hello
Yes
Dear Iftikhar Ahmed.. U have done a Great Job.
Dear Iftikhar Ahmed.. U have done a Great Job. Highly Appreciated
Good information
Good information
Very good information nice job
Good nice jobs
Ab 192 hogay
Good Effort sir
211 Pkr equals to 1 Usd in june 2022
Very nice information. Please also support my blog which is name is the concept of zoology
Unfortunately, it's 240 in the interbank market and 245 in the open market.
Check my information about 1 usd to pkr in 1947
Ms
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