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4.5 Indian Rupee as exchange rate anchor. 4.6 Other. ... Foreign exchange market; Futures exchange; ... Currency board (11)
The rupee was pegged to British Pound until 1982 when the government of General Zia-ul-Haq changed to a managed float. As a result, the rupee devalued by 38.5% between 1982–83 and 1987–88 and the cost of importing raw materials increased rapidly, causing pressure on Pakistani finances and damaging much of the industrial base.
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is depreciating, a central bank can sell its reserves in foreign currency to buy its ...
Big Mac index, November 2022. The Big Mac Index is a price index published since 1986 by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and providing a test of the extent to which market exchange rates result in goods costing the same in different countries.
50 Pakistan (Pakistani Union) $1,400 $350 Billion 24 crore Urdu: 51 Myanmar: $1,400 $80 Billion 5.5 crore Burmese: 52 Nepal: $1,300 $40 Billion 3 crore Nepali: 53 India's Uttar Pradesh: $1,200 $310 Billion 24 crore Hindi: 54 India's Jharkhand: $1,200 $50 Billion 4 crore Hindi: 55 India's Bihar: $840 $110 Billion 13 crore Hindi: 56 Afghanistan ...
By contrast, the currency's black market exchange rate is artificially weak. In such cases, a PPP exchange rate is likely the most realistic basis for economic comparison. Similarly, when exchange rates deviate significantly from their long term equilibrium due to speculative attacks or carry trade, a PPP exchange rate offers a better ...
The currency was promoted by Philibert Besson , the elected deputy for the Haute-Loire who, along with Archer, was an influential figure in the European federalist movement. The coins were minted in the name of a hypothetical "Federated States of Europe" ( États fédérés d'Europe ).