Pakistani Rupee

Overview

Economy

• Pakistan is a member of SAARC, OIC, SCO, Non-Aligned Movement, Commonwealth.
• Main industries include: Textiles and apparel, Food processing, Pharmaceuticals, Surgical instruments, Construction materials, Paper products, Fertilizer, Shrimp.
• Pakistan is part of the World Trade Organization.
• Imports are petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea.
• Major exports include textiles, basmati rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs.
• GDP: $374.9 billion (2023 est.).
• GDP per capita: $1,596 (2023 est.).
• Unemployment rate: 6.3% (2023 est.).
• Inflation rate: 29.2% (2023 est.).
• Main trading partners: China, United States, United Arab Emirates, United Kingdom, Germany, Afghanistan.
• Trade agreements: China-Pakistan Free Trade Agreement, Pakistan-Sri Lanka FTA, Pakistan-Malaysia FTA.

History

• Previous currencies used: Indian rupee, British Indian rupee.
• The Pakistani rupee was introduced in 1948, replacing the Indian rupee after partition. It has undergone several devaluations and reforms as Pakistan has faced various economic challenges.
• 1948: PKR introduced, replacing Indian rupee at par
• 1972: Devaluation following 1971 war
• 1982: Introduction of polymer notes
• 1999: Military coup economic impact
• 2008: Global financial crisis and IMF program
• 2018: Major devaluation and IMF bailout
• 2022: Political crisis and economic challenges
• Exchange rate peg: GBP (1948-1971).
• Exchange rate peg: USD (1971-1973).
• Exchange rate peg: Basket (1973-1982).
• Exchange rate peg: Managed float (1982-present).

General Information

• ISO 4217 Code: PKR
• Symbols: PKR/₨
• Currency Subunits: 100 paisa
• Central Bank: State Bank of Pakistan
• Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability while managing external account pressures and supporting economic growth.
• Bills: 10 rupees, 20 rupees, 50 rupees, 100 rupees, 500 rupees, 1000 rupees, 5000 rupees
• Coins: 1 rupee, 2 rupees, 5 rupees, 10 rupees
• USD Exchange Rate: Variable (approximately 280-290 PKR per USD)
• Pegged To: None (Floating)
• Capital: Islamabad
• Population: 235,824,862 (2023 est.)
• Area: 796,095 km²
• Languages: Urdu (official), English (official), Punjabi, Sindhi, Saraiki, Pashto, Balochi, Hindko, Brahui
• Time Zones: UTC+5 (Pakistan Standard Time)
• Government Type: Federal parliamentary republic
• Head of Government: President (head of state), Prime Minister (head of government)
• Independence: August 14, 1947 (from British India)
• Ethnic Groups: Punjabi 44.7%, Pashtun 15.4%, Sindhi 14.1%, Saraiki 8.4%, Muhajir 7.6%, Balochi 3.6%, Other 6.3%
• Religions: Muslim 96.5% (Sunni 85-90%, Shia 10-15%), Other 3.5%
• Literacy Rate: 59.1% (2017 est.)
• Transport: Jinnah International Airport, Grand Trunk Road, railways, Karachi and Gwadar ports, China-Pakistan Economic Corridor
• Communications: Expanding telecommunications, 21% internet penetration, extensive mobile coverage
• Energy: Natural gas 33%, Oil 29%, Hydroelectric 27%, Coal 5%, Nuclear 3%, Renewables 3%
• Countries Using This Currency: Pakistan
• Data Sources: Central Bank: State Bank of Pakistan (sbp.org.pk), Economic Data: Pakistan Bureau of Statistics, World Bank, IMF, Trade Data: Federal Board of Revenue, Demographic Data: Pakistan Bureau of Statistics, Geographic Data: Pakistan Meteorological Department, Historical Data: State Bank of Pakistan archives
• Last Updated: 2025