Pakistani Rupee’s Record Slide Versus US Dollar

Posted on May 25, 2008
Filed Under >Owais Mughal, Economy & Development
33 Comments
Total Views: 58436

Owais Mughal

Pakistan 5000 Rupee note

According to money central at msn, Pakistani Rupee was traded at US $68.25 today. Just around January of 2008, Rupee was quite steady at around 61 rupees to a dollar but in the past 4 months, the depreciation has been alomst 10%. That too at a time, when US dollar is also weakening as compared to other major curencies of the world. Following graph shows Rupee’s one year comparison versus the US dollar.

Pakistan Rupee U.S. dollar rate

On May 23, 2008, ONE Unit of other currencies was equal to following number of rupees:

1 Australian Dollar = 65.64 Pakistani Rupees
1 Bangladesh Takka = 0.99 Pakistani Rupees
1 Canadian Dollar = 69.09 Pakistani Rupees
1 Chinese Yuan = 9.84 Pakistani Rupees
1 Euro = 107.73 Pakistani Rupees
1 Indian Rupee = 1.6 Pakistani Rupees
1 Iraqi Dinar = 0.06 Pakistani Rupee
1 Kuwaiti Dinar = 257.58 Pakistani Rupees
1 Saudi Rial = 18.23 Pakistani Rupees
1 Thai Baht = 2.12 Pakistani Rupees
1 UAE Dirhan = 18.61 Pakistani Rupees
1 Zimbabwe Dollar = 0.002 Pakistani Rupees

Following graph is the 5-year view of Pakistani rupee versus the US dollar. One can easily note the alarmingly sharp decline in the value of Rupee in the last few months.

Pakistan rupee u.s. dollar 5 year chart

Following graph shows Rupee’s sharp decline as of August 7, 2008

References:

1. Money central, msn
2. Yahoo Finance

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33 responses to “Pakistani Rupee’s Record Slide Versus US Dollar”

  1. Muffi says:

    Owias great article.
    However. From your advice, where do you think the Pak Rupee will be early 2009? Will it get stronger?
    I want to exchange PKRS into dollars.

  2. Khan says:

    I am comming to my country, I like to meet Mr. Asif zardari, as a President of Pakistan

    Ramzan Mubarak to all my Pakistani Friends

  3. A.S.W. says:

    The Pakistani ruppee is being hammered… does that actually help our exports in any way?

  4. ali says:

    to mr shehkar , let me make it clear to u indians that pakistan will eat grass but we won’t give up our nuclear program.bcz by nuclear war heads our country is alive otherwise evils like indians would be killing us(like u did with muslims in gujrat) today as ur evil corrupt devils do in kashmir.we are first muslim nuclear power and the whole muslim ummah backs us.saudi king would fund us billions in case of any financial issues for our nuclear program.pakistan nuclear program has always been funded by saudis and arab muslims, it has nothing to do with country own money so rolling back nuclear program doesn’t offers us benefitrs but the threat of invasion of evils arise.u can keep dreaming but that won’t happen.about pakistani ruppe do u guys know usd is getting strengthen against all major currencies of world.usd is up by 1300 pips againsty euro in last two weeks that is 15 rupees against euro.all currencies are falling y not pakistani rupee then.its not a big deal.its a natural phenomena.indian can keep dreaming and wishing pakistan will be over but i assure iour country will deal with this again.and we trust in Allah.we don’t trust animals like cows as in india.i would recommend indians to mind their own business.else pakistani ruppee even falling rupee will help us bcz our exports would grow as compared to india.more intrestingly u would be glad to know that euro is down from rs 116 .per pkr to 110 now! y don’t pple reliaze all world currecnies are falling against usd.pound is down from rs 146 to 140.aus $ from rs 75 to rs 66… this is not a panic situation so don’t worry.sbp knows how to handle and we will handle it.when all currencies like euro/pound are falling against dollar y can’t our rupee.please understand the world forex markets.no need to panic sbp is handling it and i assure when pkr reaches 85(its an sbp emergency upper limit) rs sbp will launch emergency fund of us $ into market and will crash us$ to rs 60.thats what we did earlier when we crashed us dollar from 75 to 68.. we have the power we r doing it cause it doesn’t make much difference to sbp bcz all other currencies except dollare r cheaper to ruppee.pls undertsand it. up coming pakistan fund are $50 billions in next yr 2009 june.on decenmer we r getting $20 billions.we will handle it.its not dollar shortage its just rise of dollar against all major currenices.support pakistan, buy pakistani rupee.in case u buy foreign currencies pls put ur money into banks so sbp can use it in case of shortage.sbp doesn’t criticize if u buy euro/dollar but if u put ur fc in bank we would appreciate it. senior offical SBP state bank of pakistan.

  5. Owais Mughal says:

    Pakistani rupee sinked to a new record low against dollar today. According to Dawn update, rupee was traded at 1 US $ = 75.6 rupees. That is almost 20% devaluation in first 5 months of current government.

    Anwar Masood has sher for this situation:

    bache ke haath se jo dahi gir paRa hai aaj
    is mein bhi qusoor pichli hukoomat ka hai

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