In 1947, the Value of $1 US was Equal to 3.30 Rupee.
Following the end of the British Raj and the establishment of two sovereign nations, Pakistan and India, the country continued to utilize the pre-existing currency notes and coins stamped by the Pakistani government throughout the early days of independence.
However, the State Bank of Pakistan issued new banknotes in 1948, marking a key step towards Pakistan’s financial independence.
Interestingly, despite the US dollar’s long history and stability, the exchange rate between the US dollar (USD) and the Pakistani Rupee (PKR) in 1947 was exceptionally low.
During that time, one British Pound (GBP) was worth 13.33 Pakistani Rupees, whereas one US Dollar (USD) was worth only 3.31 Pakistani Rupees.
This exchange rate is one of the most beneficial in the history of the USD-PKR dynamic, indicating a distinct period of currency value during the partition of India and Pakistan.
Also read: BRICS currency vs Dollar’s dominance: A detail analysis
In 1947, the Value of $1 US was Equal to 3.30 Rupee.
The US dollar is the official currency of the United States and a number of other countries.
The Coinage Act of 1792 established the United States dollar on equal footing with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents.
Federal Reserve Notes, generally known as greenbacks due to their predominately green color, are the currency of the United States.
The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation’s central bank.
