Just went down a rabbit hole on Pakistan's currency history and it's actually wild how much the rupee has depreciated over the decades.

So back in 1947 when Pakistan gained independence, 1 USD was just 3.31 PKR. The rate stayed flat for years—literally unchanged through the 1950s. Then it started creeping up in the mid-50s, hitting 3.91 PKR in 1955 and 4.76 by 1956. And here's the thing: that 4.76 rate held steady for like 15 years.

But then things accelerated. By the early 70s there was a big jump to 11 PKR per dollar, and after that it's been a steady slide downward. The 80s saw it climb to around 20-21 PKR, then the 90s brought rapid depreciation—from 28 PKR in 1993 to over 51 PKR by 1999. The dollar rate in 1947 in Pakistan seems almost like a different era compared to what happened next.

Fast forward to the 2000s and the depreciation just kept going. By 2008 it hit 81 PKR, then 2018 saw a massive jump to 139 PKR. Last few years have been brutal—2023 hit 286 PKR per dollar, and we're sitting around 277 in 2024. That's an 83x depreciation since independence. Wild to see how currency devaluation compounds over 75+ years.