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The Pakistani rupee (ISO code: PKR) is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan . It was officially adopted by the Government of Pakistan in 1949.
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The lower denomination notes take a battering in daily use, often being very dirty and sometimes disintegrating. [4] On 17 May 2010, the Bank of Uganda issued a new family of notes featuring a harmonised banknote design that depict Uganda's rich historical, natural, and cultural heritage. They also bear improved security features.
During Eid al-Fitr, shopkeepers across Pakistan refused to accept Rs. 75 notes, sparking rumors about the note’s possible demonetization. In response, SBP spokesperson Abid Qamar posted a video on the central bank’s official Twitter account, reassuring the public that the Rs. 75 commemorative note is fully valid for transactions.
The currency of the UK is the pound sterling, represented by the symbol £. The Bank of England is the central bank, responsible for issuing currency. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover the issue.
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 ...
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This anomalous state of affairs arose because the first currency used by the British colonial authorities in British East Africa was the rupee, not sterling. The East African shilling was introduced to Kenya , Tanganyika , and Uganda in 1921, replacing the short-lived East African florin at a rate of 2 shillings to 1 florin.