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The Pakistani rupee depreciated against the United States dollar until the turn of the century when Pakistan's large current account surplus pushed the value of the rupee up against the dollar. The State Bank of Pakistan then stabilized the exchange rate by lowering interest rates and buying dollars, to preserve the country's export ...
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.
When India toured Pakistan in 1955, thousands of Indian fans were granted visas to go to the Pakistani city of Lahore to watch the Test match, but both the 1955 series and Pakistan's tour of India in 1961 ended in drawn series, with neither team being able to win a single Test match. Complaints about the fairness of umpires became routine.
At the end of 1969, the Indian Rupee was trading at around 13 British pre-decimal pence (1s 1d), or Rs. 18 = £1. A decade later, by 1979, it was trading at around 6 British new pence (6p). Finally, by the end of 1989, the Indian Rupee had plunged to a then-all-time low of about four British pence (4p).
This story was initially published on the Benzinga India Portal. The Indian rupee plummeted to a historic low on Thursday, driven by strong dollar demand from local importers and likely capital ...
After the Partition of India, the Pakistani rupee came into existence, initially using Indian coins and Indian currency notes simply over-stamped with "Pakistan". Previously the Indian rupee was an official currency of other countries, including Aden, Oman, Dubai, Kuwait, Bahrain, Qatar, the Trucial States, Kenya, Tanganyika, Uganda, the ...
India was forced to sell dollars to the extent of close to US$35 billion in the spot markets in Financial Year 2009 due to 22% depreciation in rupee (against the dollar) in the same fiscal year 2009. In 2009, India purchased 200 tonnes of gold from the International Monetary Fund , worth US$6.7bn (€4.57bn, £4.10bn).
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...