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US Dollar History & 1 USD TO PKR in Pakistan Early Days

by Soft2share.com

This Dollar to Rupee conversion tool allows you to compare the live inter-bank currency rate with competitive travel money exchange rates available within the foreign exchange markets. Send money from USD to PKR the way that’s convenient for you: online, with our app, or in person at an agent location. The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The symbol $, usually written before the numerical amount, is used for the U.S. dollar (as well as for many other currencies). Google News The sign was the result of a late 18th-century evolution. The U.S. dollar was introduced at par with the Spanish-American silver dollar.

USD TO PKR: This is a popular outrage these days on Social Media that how the Pakistan Rupee was equal to 1 US dollar on 14th, August 1947. Unfortunately, it is not correct. Exchanging 1 USD to PKR in 1947 would not have got you 1 Rupee exactly. In 1947 when Pakistan got its independence, there were no outside borrowings on the balance sheet of Pakistan thus the value of Pakistan Rupee was at parity with US Dollar. Since Pakistan was under British rule Rupee was pegged to British Pounds. the state bank of Pakistan issued new banknotes in 1948. However, the US dollar has a long history and a solid background, yet 1 USD to PKR in 1947 was never equal. Even though after partition, 1 GBP was equal to 13.33 Pakistani Rupees and at that time and 1 USD to PKR in 1947 was 3.31 Pakistani Rupees. Probably it was the cheapest exchange rate in the history of USD and PKR relations. Everyone in Pakistan knows that Before our independence British rules us. So when Pakistani people got independence, Pakistani people had adopted Sterling Pound.

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