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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.
In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
Pakistan Customs in September 2023 conducted an intensified anti-smuggling campaign across the country, resulting in the seizure of essential commodities valued at 2.25 billion rupees. The seized items encompassed a wide range of essential goods, including sugar, urea, petroleum, currency, tires, black tea, vehicles, iron, steel, and various ...
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.
'Acquisition of Gwadar') was the acquisition of the territory of Gwadar by Pakistan from the Sultanate of Oman in 1958. Pakistan was able to acquire 15,210 square kilometres (5,870 sq mi) of land on the coast of Balochistan for around 5.5 billion Pakistani rupee (or 2 million US dollars today), paid mostly by Aga Khan IV.
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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
The number of "401(k) millionaires" — 401(k) plan participants with balances of at least $1 million — has reached a record high, new data from Fidelity Investments shows.. As of June, there ...