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Welcome to
usdtopkr.pk – IF we delve into a bit of details regarding
the
USD to PKR exchange rate,
it’s no news that the USD has always dominated the PKR by a
large margin. In fact during the past decade it’s difficult to
determine a point where the 1 Dollar to PKR Forex was ever below
USD1:PKR100.
Will the Dollar to
Pakaistani Rupee ever devalue? Part of the reason is also that
is due to our adverse balance of payments, which has an ever
increasing import bills (USD to PKR) of more expensive finished
goods and luxury items rather than capital machinery or skills
against declining exports which are mainly based on low value
agriculture products rather than finished goods and that too in
an era where technology/IT products and services are higher
value with a more elastic supply chain. Whilst Pakistan has one
of the largest supply of IT services exports on low value high
population natured services, the truth is that this potential
and the relevant amount of exports to date remains untapped. Not
only is the government not encouraging and establishing a proper
infrastructure for such IT related services, but also the
existing law fails to recognize a large scope of these services
due to outdated laws, hence forcing people to keep all their
money earned through this outside the country and such services
not even being included under the scope of exports.
History of USD to PKR:
IF we delve into a
bt of details regarding the 1 USD Dollar to PKR Exchange Rate,
it’s no news that the USD has always dominated the PKR by a
large margin. In fact during the past decade it’s difficult to
determine a point where the USD to PKR Forex was ever below
USD1:PKR100. With several government changes and each with a
polar opposite vision of how the economy can grow, the currency
PKR has more often than not suffered against the USD due to
severe devaluation thanks to how much the institutions favor
high interest rates. USDtoPKR.pk Ever since the last government
came into power in 2018, the Dollar to PKR forex started from
USD1:PKR139 and gradually increased to USD1:PKR178. However when
the government was changed during the start of the second
quarter, the Dollar rose to an all-time high of Over Rs.240 per
Dollar until this month when the Dollar to PKR devalued to
USD1:PKR218 and is floating around that point since. Whilst the
dollar is not expected to fall anytime soon, the inflation this
increase in USD to PKR has bought about is bound to devalue the
PKR against the USD in the long term unless drastically
efficient and result inducing economic policies accompanied by
massive investment, aggregate supply increase and GDP growth
takes place to stabilize the PKR against the threats it faces
both domestically and internationally. What is Forex USD
to PKR RATES?
A Currency is one
of the most integral building blocks of the economy of any
country used as a medium of exchange, store of value as well as
an accurately quantifiable and quantitative measure to assign
value to things, goods and services. While every country in the
global economy has its own currency, some currencies due to
strong economies and favorable trade policies globally have had
a significant reflection of these strengths in their currency,
which have become predominantly stronger and have an advantage
and protection against devaluation due to purely domestic
pressures, thanks to the significant demand overseas as well. A
great example for this can be the US Dollar ($) which has stood
the test of time and fared through the worst American recessions
in history, yet continues to be the most powerful currency in
the world purely due to it being the backbone of global trade.
How is Forex Determined?
Exchange rates are determined by the Forex policy set by the
government. Dollar to PKR It can either be the more popular
floating exchange rate which used natural principles of supply
and demand of the currency to determine its value against the
world’s other currencies or it can be a fixed or pegged exchange
rate which has the rate pegged or fixed at a specific country’s
currency or a specific value.
The Math behind Forex:
While on its face Forex rates seem seemingly simple, there is a
world of complex calculations being rendered every second to
determine the exchange rate as at that point in time for every
currency against another for instance the Dollar to PKR forex
rates. Not only is the forex effected by the domestic
macroeconomic indicators of the country of a currency, it also
increases or decreases in response to changes in the currency it
is being compared against. For instance the PKR to USD forex
rates may be devalued due to the current volatile political
situation of Pakistan taking its adverse toll on inflation and
purchasing power parity or it may be devalued by the
strengthening of the USD against PKR owing to rapid GDP growth
of USA. Other factors effecting Forex are macroeconomic
indicators like Unemployment, inflation, GDP, interest rates and
even speculations about the performance of a particular economy.
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WORLD TOP
CURRENCIES:
(Published on December 01, 2022)
KUWAITI DINAR (KWD):
Kuwaiti Dinar is one of the most impressive and highest
stability currencies existing in the world today. It has managed
to maintain one of the highest exchange rates yet one of the
most used and in demand currencies as of 2022 purely due to its
high speculative demand which drives the super high valuation in
forex markets and very profitable exchange rates it is renowned
for. (Dollar to PKR) The Kuwaiti Dinar is backed by rich oil
money as Kuwait is a rich oil state and it is rightly reflected
in its very strong and resilient Kuwaiti Dinar which has stood
the test of time and forces against mighty players like the USD
and EUR or GBP. Safe to say, the Kuwaiti Dinar is one of the
most viable currencies to profit from exchange rates in the long
term owing to factors that are likely to remain undisturbed in
the near future.
BAHRAINI DINAR (BHD)
The Bahraini Dinar / BHD is one of the most highly valued
currencies in the world and tops the charts at the second
highest most valued currency in the world only after the USD.
The famous BHD derives all this value from the rich oil and gas
resources and related exports of the country as well as being
heavily invested and focused in the tourism and financial
sectors. (USD Dollar to PKR) This means that the BHD does have
some volatility depending upon the fluctuation in the global oil
prices. This is evident from the exchange rates of the BHD over
the past 5 years starting from 2017 when it was 1 BHD=281 PKR.
As the position of oil improved and local tourism in Bahrain was
promoted, it improved to 369 PKR for 1 BHD. 2019 marked the
third consecutive year of BHD appreciation against the PKR when
it rose to PKR 410=1 BHD. However as 2020 approached and COVID
significantly impacted the global tourism industry, Bahrain was
also adversely impacted yet managed to stay stable at 426 PKR =1
BHD. Today the rate of 1 BHD hovers around 596 PKR which is a
noticeable improvement and a great reflection of the rebound
from the destruction caused by the COVID era.
BRITISH POUND (GBP):
The Great Britain Pound is perhaps the strong and certainly
the most royal currency ever in the history of the world. Being
the Official currency of the UK, one of the most powerful
kingdoms in the world, the GBP has a strong economy, a pedigree
in effective policing and bureaucracy as well as strong growth
indicators all contributing towards the GBP being one of the
most used and famous currencies in the world. The GBP to PKR
exchange rate has had a very interesting history mainly due to
the high volatility of the PKR appreciation and depreciations. (USD
to PKR) In 2017 1 GBP = 149 PKR which increased to PKR 216= GBP
1 in 2020 during the COVID period. After suffering a great deal
in economic depressions and prolonged periods of inflations, the
GBP does continue to suffer natively but the Forex value against
PKR is maintained at 1 GBP= 273 PKR due to very high
depreciation if the PKR in the forex markets.
CANADIAN DOLLAR:
The Canadian Dollar is the official currency of Canada and
just like every other currency, the wealth and progressive
nature of the CAD reflects not only the progressive
multicultural richness of the country but also the inherently
natural dominant nature of the Dollar. (USD to PKR) The CAD has
grown multifold in the past couple of years as more and more
people from rich IQ Asian, Indian and middle eastern countries
have immigrated there and started to contribute positively to
the GDP and HDI indexes within Canada, making the Canadian
Dollar the highest value currency falling short of only a few
points when compared to with the USD.
AUSTRALIAN DOLLAR:
The PKR enjoys a unique relationship with the Australian dollar/
AUD. With a huge number of expats currently living in Australia
and earning AUD as well as remitting the same to PKR has made
AUD one of the top most demanded currency in Pakistan. It enjoys
an excellent forex rate of AUD to PKR and currently its free
floating at 1AUD=150PKR.
Before the great depreciation if the PKR, the relationship of
PKR and AUD was largely stable, with only Australia’s growth
contributing to the growing value of the AUD over the past 5
years. What started off at 1AUD=85PKR in 2017 grew to 97PKR for
1 AUD and 108 PKR=1AUD in 2018 and 2019 respectively. It
remained strong even against COVID and due to depreciating PKR
the forex was 1UAD=121PKR in 2020. Currently with PKR at its
worst in the past many years, the AUD is at PKR 150 for 1 AUD
with no foreseeable appreciations in favor of the PKR.
USA DOLLAR:
It would not be an understatement if the USA Dollar or USD is
called the most powerful currency in the world as of 2022. Not
only is it the most famous and most used currency, with its
integration in almost all major trade unions and trade areas and
being the currency of choice for all international trade, the
USD is also the most valuable and valued currency in the world.
PKR to USD is one of the most common forex rates in Pakistan and
has been quite volatile over the past many years. In 2017 it was
1USD=109PKR and consistently grew to 139 PKR to 1 USD and 1 USD=154PKR
as well as 1USD=159PKR in subsequent years. As of today, the USD
has maintained a strong position against PKR despite all
economic setbacks at PKR225 to 1 USD.
The currency of America is the United States Dollar (USD). It is
also known as the US dollar or American dollar and is the
official currency of the United States of America. The USD is
used as the main currency for international trade and is widely
accepted around the world for transactions and foreign exchange.
It is divided into 100 cents and is issued by the Federal
Reserve System, which is the central bank of the United States.
To convert US Dollar (USD) to Pakistani Rupees (PKR), you can
follow these steps:
1-Find the current exchange rate for USD to PKR. You can search
online for "USD to PKR exchange rate" to find up-to-date
information.
2-Multiply the amount of USD you want to convert by the current
exchange rate. For example, if the exchange rate is 1 USD = 170
PKR and you want to convert 100 USD, you would multiply 100 by
170, which equals 17,000 PKR.
Alternatively, you can use a currency converter tool, which will
automatically calculate the exchange rate for you and convert
your desired amount.
Keep in mind that exchange rates can fluctuate frequently, so
the amount of PKR you receive may vary depending on the timing
of your exchange.
HISTORY OF USD TO PKR:
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The history of USD to PKR exchange rate is a complex one, with
fluctuations in value over the years due to various economic and
political factors. Here are some key points in the history of
USD to PKR exchange rate:
In 1947, when Pakistan gained independence from British India,
the exchange rate was 1 USD to 3.31 PKR.
In the 1950s and 1960s, the exchange rate remained relatively
stable, with slight fluctuations. In 1960, the exchange rate was
1 USD to 4.76 PKR.
In the 1970s, due to a range of economic factors, including
nationalization of industries, currency devaluation, and
political instability, the PKR began to decline in value. In
1971, the exchange rate was 1 USD to 4.76 PKR, but by 1979, it
had fallen to 1 USD to 9.90 PKR.
In the 1980s, the PKR continued to decline in value, partly due
to external factors such as the oil crisis and the war in
Afghanistan. By 1988, the exchange rate had reached 1 USD to
18.70 PKR.
In the 1990s, the PKR began to stabilize, partly due to economic
reforms and improvements in the country's balance of payments.
By 1999, the exchange rate was 1 USD to 45.15 PKR.
In the 2000s, the PKR continued to fluctuate due to a range of
factors, including global economic conditions, political
instability, and terrorism. By 2009, the exchange rate had
reached 1 USD to 83.50 PKR.
In recent years, the PKR has continued to fluctuate, partly due
to a range of economic and political factors, including
inflation, energy shortages, and political instability.
US Dollar For International Trade:
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The US dollar (USD) is widely used as the primary currency for
international trade. This is due to several reasons:
1- Stability: The US economy is one of the largest and most
stable economies in the world. The USD is seen as a stable and
reliable currency, which makes it attractive to foreign
investors and businesses.
2- Reserve Currency: The US dollar is the most widely held
reserve currency in the world. Many central banks around the
world hold US dollars as part of their foreign exchange
reserves, which increases the demand for the currency.
3- Wide Acceptance: The USD is widely accepted around the world,
particularly in countries that have a high volume of
international trade. This makes it easier for businesses to
conduct transactions in USD, as it reduces the need for currency
exchange.
4- Large Market: The United States has a large and active
market, which makes it an attractive destination for foreign
investment. The USD is used as the currency for these
transactions, further increasing its use in international trade.
Overall, the stability, reserve status, wide acceptance, and
large market of the US dollar make it the most widely used
currency for international trade.
Why US dollar too high in Pakistan?
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There are several
factors that can contribute to the value of the US dollar being
high in Pakistan, including:
Trade: The US dollar is a widely accepted currency for
international trade, and many businesses in Pakistan may need to
use US dollars to conduct transactions with other countries.
This can increase demand for US dollars in Pakistan, driving up
the value of the currency.
Remittances: Many Pakistanis working abroad send money back home
in the form of remittances, and these transactions are often
conducted in US dollars. As the demand for US dollars increases
due to remittances, the value of the currency can rise.
Investment: Foreign investors may choose to invest in Pakistan,
and they may use US dollars to do so. As more US dollars are
invested in Pakistan, the value of the currency can increase.
Political and economic stability: If investors perceive Pakistan
to be a stable and reliable country to do business with, they
may be more likely to invest in the country, which can increase
demand for US dollars and contribute to the currency's high
value.
It's worth noting that exchange rates are also affected by a
variety of external factors such as global economic conditions,
interest rates, and government policies, which can all influence
the demand for and supply of currencies.
USD to PKR year
by year from 2001 to 2023:
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Here are the
approximate exchange rates of USD to PKR year by year from 2001
to 2023, based on my knowledge cutoff date of September 2021:
2001: 63.25 PKR
2002: 61.45 PKR
2003: 58.00 PKR
2004: 58.10 PKR
2005: 59.40 PKR
2006: 60.65 PKR
2007: 60.20 PKR
2008: 68.90 PKR
2009: 80.00 PKR
2010: 85.50 PKR
2011: 86.00 PKR
2012: 94.10 PKR
2013: 105.30 PKR
2014: 101.40 PKR
2015: 104.80 PKR
2016: 104.40 PKR
2017: 105.50 PKR
2018: 138.90 PKR
2019: 154.90 PKR
2020: 160.20 PKR
2021: 166.00 PKR (as of September)
It's important to note that exchange rates can vary based on
various factors, including economic conditions, political
stability, and market demand, and the actual exchange rates may
differ from the above approximations. |
