ISLAMABAD: The exchange rate between the US Dollar (USD) and Pakistani Rupee (PKR) has seen significant changes since Pakistan‘s independence in 1947. At the time of independence, 1 USD was equivalent to just 3.31 PKR. Several factors, including economic shifts, inflation, political instability, and currency policies, have caused the value of the Pakistani Rupee to fluctuate drastically over the decades.
Here’s a look at how the USD to PKR rate has evolved over the years:
- 1947: 1 USD = 3.31 PKR
- 1950: 1 USD = 3.31 PKR
- 1960: 1 USD = 4.76 PKR
- 1970: 1 USD = 9.52 PKR
- 1980: 1 USD = 9.90 PKR
- 1990: 1 USD = 21.71 PKR
- 2000: 1 USD = 51.90 PKR
- 2010: 1 USD = 85.50 PKR
- 2020: 1 USD = 160.50 PKR
- 2024: 1 USD = 280+ PKR
Why Was the Dollar Rate Low in 1947? At the time of Pakistan’s creation, the country had a relatively small and stable economy with controlled inflation. The Pakistani Rupee was initially pegged to the British Pound, keeping it stable, and there was limited reliance on imports and exports, making the rupee stronger compared to today.
Read More: Gold Prices Hit All-Time High in Pakistan, Reach Rs300,000 Mark
Current Impact of Dollar Fluctuations In recent years, due to economic challenges, political instability, and inflation, the Pakistani Rupee has weakened against the US Dollar. As of 2024, the exchange rate has crossed 280 PKR for 1 USD, significantly affecting the cost of imports, foreign trade, and the overall economy.
For those tracking exchange rates, it is important to keep an eye on updates from the State Bank of Pakistan (SBP) or other reliable financial sources.
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