Search results
Results from the WOW.Com Content Network
US dollar-Pakistani rupee exchange rate Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/ 31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/ 76 per U.S. dollar, a devaluation of 30%, to match the Indian rupee's value. [ 30 ]
Before the end of the gold standard, gold was the preferred reserve currency. 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 ...
Full convertibility with the U.S. dollar became jeopardized upon implementation of exchange rate controls that provided a preferential exchange rate for exports. The currency board was allowed to hold up to one-third of its dollar-denominated reserves in the form of bonds issued by the government of Argentina. It acted as lender of last resort ...
This replaces past practices under a gold standard where the main concern is the gold equivalent of the local currency, or under a gold exchange standard where the concern is fixing the exchange rate versus another gold-convertible currency (previously practiced worldwide under the Bretton Woods Agreement of 1944 via fixed exchange rates to the ...
The country has been considered economically stable with moderate inflation, estimated at 2.6% in 2017, [59] and moderately high GDP growth, which increased from US$41.3 billion in 2011 to US$52.6 billion in 2015. [60] The estimated GDP for 2018 is US$59.0 billion and the estimated GDP per capita (purchasing power parity) is Intl$17,559.1. [59]
Due to centuries of trade and usage of the currency, dirham survived through the Ottoman Empire. Before 1966, all the emirates that now form the UAE used the Gulf rupee, which was pegged at parity to the Indian rupee. On 6 June 1966, India decided to devalue the Gulf rupee against the Indian rupee.
From the end of the war to the end of 1953, the US provided grants and credits amounting to $5.9 billion to Asian countries, especially the Republic of China (Taiwan) ($1.051 billion), India ($255 million), Indonesia ($215 million), Japan ($2.444 billion), South Korea ($894 million), Pakistan ($98 million) and the Philippines ($803 million).
Around 21 March 2007, the revalued Zimbabwean dollar regained least valued currency status (in terms of black market exchange rate), and on 7 September 2007 in terms of official exchange rate. After the use of the Zimbabwean dollar ceased on 12 April 2009, [ 47 ] the dong was the second least valued currency unit after the Iranian rial as of 28 ...