1 AED to PKR in 2008
Historical Exchange Rate of UAE Dirham (AED) to Pakistani Rupee (PKR) in 2008
The United Arab Emirates Dirham (AED) is the official currency of the United Arab Emirates, while the Pakistani Rupee (PKR) is the official currency of Pakistan. In 2008, the exchange rate between AED and PKR was an important factor in the economic relations between the two countries.
Exchange Rate Fluctuations in 2008
In 2008, the exchange rate of AED to PKR fluctuated significantly due to various economic factors, including changes in oil prices, inflation rates, and interest rates. Here is a brief overview of the exchange rate fluctuations in 2008:
- January 2008: 1 AED = 22.35 PKR
- April 2008: 1 AED = 23.15 PKR
- July 2008: 1 AED = 24.25 PKR
- October 2008: 1 AED = 25.15 PKR
- December 2008: 1 AED = 26.05 PKR
As can be seen from the above exchange rates, the PKR experienced a depreciation against the AED throughout 2008, with a slight appreciation in April 2008.
Factors Affecting Exchange Rate in 2008
Several factors contributed to the fluctuations in the AED to PKR exchange rate in 2008, including:
- Oil Prices: The global oil prices increased significantly in 2008, leading to an increase in inflation rates and a depreciation of the PKR against the AED.
- Interest Rates: The interest rates in the UAE and Pakistan also played a role in shaping the exchange rate. A hike in interest rates in the UAE led to an appreciation of the AED, while a decline in interest rates in Pakistan led to a depreciation of the PKR.
- Trade Balance: The trade balance between the UAE and Pakistan also influenced the exchange rate. A trade deficit in Pakistan led to a depreciation of the PKR, while a trade surplus in the UAE led to an appreciation of the AED.
Conclusion
In conclusion, the exchange rate of AED to PKR in 2008 was influenced by various economic factors, including oil prices, interest rates, and trade balance. The PKR experienced a depreciation against the AED throughout 2008, with a slight appreciation in April 2008. Understanding these fluctuations is essential for businesses and individuals engaged in international trade between the UAE and Pakistan.
