1 AED to PKR in 2009: A Look Back at the Exchange Rate
The United Arab Emirates Dirham (AED) and the Pakistani Rupee (PKR) are two of the most widely traded currencies in the Middle East and South Asia, respectively. In 2009, the exchange rate between these two currencies was quite different from what it is today. In this article, we will take a look back at the exchange rate of 1 AED to PKR in 2009.
Historical Context
In 2009, the global economy was still reeling from the effects of the 2008 financial crisis. The crisis had a significant impact on currencies around the world, including the AED and PKR. The AED, being pegged to the US Dollar, was relatively stable, while the PKR was more volatile due to Pakistan's struggling economy.
Exchange Rate in 2009
According to historical data, the average exchange rate of 1 AED to PKR in 2009 was around 34.50 PKR per AED. This means that if you exchanged 1 AED, you would have received approximately 34.50 PKR in return.
Here is a breakdown of the exchange rate for 1 AED to PKR in 2009:
- January 2009: 34.20 PKR per AED
- June 2009: 34.80 PKR per AED
- December 2009: 34.50 PKR per AED
Reasons for the Exchange Rate
There were several reasons that contributed to the exchange rate of 1 AED to PKR in 2009. Some of the key factors include:
- Global Economic Crisis: The 2008 financial crisis led to a decline in global trade and investment, which had a negative impact on many currencies, including the PKR.
- Pakistan's Economic Struggles: Pakistan's economy was struggling with high inflation, a large trade deficit, and a declining GDP growth rate, which put pressure on the PKR.
- Oil Prices: The UAE's economy is heavily reliant on oil exports, and the decline in oil prices in 2009 led to a decrease in the value of the AED.
Conclusion
In conclusion, the exchange rate of 1 AED to PKR in 2009 was around 34.50 PKR per AED. The global economic crisis, Pakistan's economic struggles, and the decline in oil prices all contributed to the exchange rate during that year. Today, the exchange rate has changed significantly, and it is essential to stay up-to-date with the latest exchange rates for any international transactions.
