US Dollar vs Pakistani Rupee Exchange Rates since 1947

Compiled by Rashid Zia Cheema

Path of Pakistani Rupee Versus US Dollar since 1947

Since the Independence in 1947, the Pakistani Rupee was linked to the Pound sterling. It was pegged to U.S. Dollar in September 1971. On January 8, 1982, it was changed to managed float regime by the government of General Zia-ul-Haq. Under this system the value of Rupee was determined on daily basis with reference to the currencies of Pakistan’s major trading partners.

After the nuclear explosion by Pakistan in 1998, a two-tier exchange rate system (official exchange rate and floating interbank exchange rate) was introduced, effective July 22, 1998. However, the exchange rate has been unified with effect from May 19, 1999 and a market-based floating exchange rate system has been introduced. Under this system the exchange rate is determined by the demand and supply positions in the foreign exchange market. Now, Pakistan is maintaining floating rate, wherein each bank quotes its own exchange rates.

Year Pak Rupees Year Pak Rupees Year Pak Rupees
1947 N.A. 1972 8.6814 1997 41.1115  
1948 3.3085 1973 9.9942 1998 45.0467  
1949 3.3085 1974 9.9000 1999 49.5007  
1950 3.3085 1975 9.9000 2000 53.6482  
1951 3.3085 1976 9.9000 2001 61.9272  
1952 3.3085 1977 9.9000 2002 59.7238  
1953 3.3085 1978 9.9000 2003 57.7520  
1954 3.3085 1979 9.9000 2004 58.2579  
1955 3.9141 1980 9.9000 2005 59.5145  
1956 4.7619 1981 9.9000 2006 60.2713  
1957 4.7619 1982 11.8475 2007 60.7385  
1958 4.7619 1983 13.1170 2008 70.4080  
1959 4.7619 1984 14.0463 2009 81.7129  
1960 4.7619 1985 15.9284 2010 85.1938  
1961 4.7619 1986 16.6475 2011 86.3434  
1962 4.7619 1987 17.3988 2012 93.3952  
1963 4.7619 1988 18.0033 2013 101.6290  
1964 4.7619 1989 20.5415 2014 101.1001  
1965 4.7619 1990 21.7074 2015 102.7693  
1966 4.7619 1991 23.8008 2016    
1967 4.7619 1992 25.0828      
1968 4.7619 1993 28.1072      
1969 4.7619 1994 30.5666      
1970 4.7619 1995 31.6427      
1971 4.7619 1996 36.0787      

Source:
Pacific Exchange Rate Service (page 3/3)
Where can I find dollar vs PKR exchange rates over the years since 1947?

Gazette of Pakistan showing Exchange Rates on 13th October 1950

US Dollar versus Pakistani Rupee Exchange Rate on 13 October 1950

Related Page:

Convert United States Dollar to Pakistani Rupee

Editor’s Note:
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Comments

  1. pakistan taraqi karne k bajaye ….. apas me lar kar dusro keh rhy hyn hum pr haso…..
    hamen apne mulk k future ka sochna chahye…….
    sb mil kar kam kren to bhala hoskta h hamare PAKISTAN ka……

  2. Mohammad Yousaf says:

    When politicians will bring all money out of Pak to buy properties in Dubai and London .it’s natural it will happen .

  3. 1947-2000 tou 8 se 53 pa gya uska bad 2000-2017 tak seda 104 pagal to ni hu gae harami

  4. Khalid Shaikh says:

    It’s a nice Post. Great information for whole nation.

  5. Thanks for the information, dear admin!

    It’s bad to hear this but cool to get $$. 🙂

  6. Kashif Hamid says:

    Very sad. It’s only because of our politicians.

  7. Usman Yousaf Cheema says:

    Great piece of information.

  8. Maqsood says:

    Oops! the numbers after 2010 are not correct. The value listed for 2013 is the current value of dollar-rupee exchange.
    Can the editor, please, fix the error. Thank you Colonel.

  9. Maqsood says:

    Thank you for the nice work. It is quite understandable for any political-economist who had been keeping track of historical developments in the world market. We see a stable price, up till 1971, with a two to three percent inflation both in the domestic and international prices. The world currencies were pegged to the U.S. dollar under the Bretton Woods arrangements and the U.S. dollar in turn with the gold, (popularly known as gold standards). The prices remained stable right up to 1971 when the dollar was de-linked with gold standards by President Nixon. The action was primarily taken to control the growing inflation/unemployment/salary hikes. This created a domino effect in the world currency markets. The 1973 depreciation can be attributed to oil crisis in the aftermath of Yom Kippur War. The prices of oil jumped from $ 5 per barrel to $ 25 per barrel creating a havoc in the world market.
    Enter the Afghan War, our mard-e-momin, influx of petro-dollars both under the table for war support, and the foreign exchange earned by our hard-working Dubai-based emerging middle class, the dollar-rupee dance touched the bottom in one decade. What happened after that is just history. Our informal sector swallowed pushing the established accounting norms to the brink. Islam as a surkhi-powder (make-up on the face) and undercurrents were/are telling a very different tale: drugs, kalashnikov, scramble for residential plots, money laundering, and a shift of our financial capital from Karachi to Dubai. There is too much to say but I better stop. It will do no good to me or to the country but will give me more heart-burns.

    • Tahira Tanveer says:

      Hi Maqsood, great work!!!
      Every word you said is based on facts of course…the crucial facts, however, it does good to certain extent, even if its just catharsis!

  10. Qaiser Khalil says:

    Great work by your economic desk although it’s depressing to see how our rupee has devalued over the years.

    • Tahira Tanveer says:

      Qaiser Khalil,
      Yes, it is depressing to see this devaluation, not just in our currency but unfortunately, in everything.

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