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Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar to match the Indian rupee's value. [23] This fixed exchange rate was maintained until 11 May 1972, in which the rupee was devalued to Rs.11 ...
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
Exchange rate history of the Indian rupee. This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence ...
v. t. e. In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. [1] Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. [2]
In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
Pakistan Stock Exchange Limited. / 24.847417°N 66.998306°E / 24.847417; 66.998306. The Pakistan Stock Exchange ( PSX) ( Urdu: پاکستان اسٹاک ایکسچینج ), founded as Karachi Stock Exchange ( KSE ), is a stock exchange in Pakistan with trading floor on I. I. Chundrigar Road in Karachi. [ 4][ 5] PSX was classified by ...
At the end of the 19th century, the Indian silver rupee went onto a gold exchange standard at a fixed rate of one rupee to one shilling and fourpence in British currency, i.e. 15 rupees to 1 pound sterling.
This is a list of circulating fixed exchange rate currencies, ... Indian rupee: 1 Bolivian boliviano: U.S. dollar: 6.96 Bosnia and Herzegovina convertible mark: Euro: