1 Euro to PKR (Pakistani Rupee) Exchange Rate from 1947 to 2022
The Pakistani Rupee (PKR) has a rich history, and its exchange rate with the Euro has undergone significant changes over the years. In this article, we will explore the evolution of the exchange rate from 1947 to 2022.
Pre-Euro Era (1947-1999)
Before the introduction of the Euro, the Pakistani Rupee was pegged to the British Pound (GBP) at a fixed rate of 1 GBP = 13.33 PKR. In 1947, when Pakistan gained independence, the exchange rate was:
- 1 GBP = 13.33 PKR
- 1 USD = 3.30 PKR (approximate)
The German Mark (DEM) was another major currency that played a significant role in international trade. In 1947, the exchange rate was:
- 1 DEM = 4.20 PKR (approximate)
Euro Introduction (1999-2002)
On January 1, 1999, the European Union introduced the Euro (EUR) as a single currency, replacing the European Currency Unit (ECU). The fixed exchange rate was set at:
- 1 EUR = 1.1743 DEM
- 1 EUR = 1.1743 DEM x 4.20 PKR/DEM ≈ 4.93 PKR/EUR
During this period, the exchange rate was relatively stable, with minor fluctuations.
Post-2002 Era (2002-2022)
After 2002, the EUR/PKR exchange rate began to fluctuate more widely due to various economic and political factors. Here are some key exchange rates:
- 2002: 1 EUR ≈ 55.50 PKR
- 2005: 1 EUR ≈ 65.50 PKR
- 2010: 1 EUR ≈ 105.00 PKR
- 2015: 1 EUR ≈ 115.00 PKR
- 2020: 1 EUR ≈ 180.00 PKR
- 2022: 1 EUR ≈ 220.00 PKR (approximate)
As we can see, the EUR/PKR exchange rate has increased significantly over the years, primarily due to Pakistan's economic challenges, inflation, and currency devaluation.
Conclusion
The 1 Euro to PKR exchange rate has undergone significant changes since 1947. From a fixed exchange rate to a floating regime, the Pakistani Rupee has faced numerous economic and political challenges. Understanding the historical context of the exchange rate can provide valuable insights into Pakistan's economic development and its relationship with the global economy.
Note: The exchange rates mentioned in this article are approximate and based on historical data.
