Just went down a rabbit hole looking at Pakistan's currency history and honestly it's wild. Back in 1947 when the country was founded, 1 USD was worth just 3.31 PKR. For nearly a decade it stayed stable there. Then things started moving - by the mid-50s it was 3.91, jumped to 4.76 by 1955 and held there for years. That 1990 dollar rate in pakistan was around 21.71 PKR, which honestly doesn't sound like much until you realize what happened next. The real depreciation kicked in hard during the 90s and 2000s. By 2000 it was already 51.90 PKR. Then 2008 hit and suddenly it was 81 PKR per dollar. The 2010s saw continuous decline - 2015 was 105 PKR, 2018 jumped to 139. And then 2019-2020 was brutal: 163 to 168 PKR. The dollar rate in pakistan kept falling through 2022 when it hit 240 PKR. Last year it was 286 PKR per dollar. Now we're at 277 PKR in 2024. Over 77 years, the rupee lost like 98% of its value against the dollar. Pretty sobering way to see inflation and economic pressure visualized.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin