Exchange Rate of 1 USD to PKR from 1947 to 2017
The exchange rate of the US Dollar (USD) to the Pakistani Rupee (PKR) has undergone significant changes since Pakistan gained independence in 1947. In this article, we will explore the historical exchange rate of 1 USD to PKR from 1947 to 2017.
Early Years (1947-1955)
In 1947, the exchange rate was fixed at 1 USD = 3.30 PKR. This rate remained stable until 1955, when Pakistan joined the International Monetary Fund (IMF) and the exchange rate was adjusted to 1 USD = 4.76 PKR.
Devaluation and Inflation (1955-1971)
In the late 1950s and early 1960s, Pakistan faced economic difficulties, including a growing trade deficit and high inflation. To address these issues, the government devalued the rupee several times, resulting in a significant decrease in its value. By 1971, the exchange rate had reached 1 USD = 10.10 PKR.
Nationalization and Economic Crisis (1971-1988)
The nationalization of industries and banks in the 1970s led to a decline in foreign investment and a further devaluation of the rupee. The exchange rate continued to deteriorate, reaching 1 USD = 20.50 PKR in 1988.
Liberalization and Economic Reforms (1988-2002)
In the late 1980s and early 1990s, Pakistan implemented economic reforms, including liberalization and privatization. These reforms led to an increase in foreign investment and a stabilization of the exchange rate. By 2002, the exchange rate had reached 1 USD = 59.50 PKR.
Political Instability and Economic Crisis (2002-2017)
The early 2000s saw a period of political instability and economic crisis in Pakistan, marked by a decline in foreign investment and a devaluation of the rupee. The exchange rate continued to fluctuate, reaching 1 USD = 104.50 PKR in 2017.
Conclusion
The exchange rate of 1 USD to PKR has undergone significant changes since 1947, reflecting Pakistan's economic and political developments. From a fixed rate of 3.30 PKR per USD in 1947 to a fluctuating rate of over 104 PKR per USD in 2017, the rupee has faced numerous challenges, including devaluation, inflation, and economic crises. Despite these challenges, Pakistan continues to strive for economic stability and growth.
** Historical Exchange Rate Data **
| Year | Exchange Rate (1 USD = ? PKR) |
|---|---|
| 1947 | 3.30 |
| 1955 | 4.76 |
| 1971 | 10.10 |
| 1988 | 20.50 |
| 2002 | 59.50 |
| 2017 | 104.50 |
Note: The exchange rate data is approximate and sourced from various historical records and financial institutions.
