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TC #usdtstory
Just went down a rabbit hole looking at Pakistan’s currency history and man, it’s wild to see how much the rupee has depreciated over 77 years 📉
Back in 1947 when Pakistan was founded, 1 USD was just 3.31 PKR. The rate stayed locked there for nearly a decade - can you imagine? Then things started shifting. By 1955 it moved to 3.91, and through the 60s it hovered around 4.76 PKR.
But here’s where it gets interesting. There was this massive jump in 1972 - suddenly 1 USD = 11.01 PKR. That’s when things really started moving. If you check what happened in 1980, the rate was around 9.99 PKR per dollar, which had been holding steady since the late 70s.
Then the 90s hit differently. By 1999, you needed 51.90 PKR to get one dollar. Fast forward to 2008 and it jumped to 81.18. The real acceleration came after 2018 though - 139.21 PKR in 2018, then 163.75 in 2019, and by 2023 we’re looking at 286 PKR per USD. Last year it settled around 277.
So in less than 80 years, the rupee lost like 98% of its value against the dollar. When you look at 1 usd to pkr rates from the 80s versus now, it’s honestly staggering. This is what happens with inflation, external debt, and currency devaluation over decades.