Pakistani rupee

From Free net encyclopedia

The Pakistani rupee (PKR) is the currency of Pakistan.

1 History
2 Coins
3 Banknotes
4 Exchange Rate
5 External links

History

The Pakistani rupee was put into circulation after the country became independent from India in 1947. For the first few months of independence, Pakistan used Indian coins and notes with "Pakistan" stamped on them. New coins and banknotes were issued in 1948. Like the Indian rupee, it was originally divided into 16 annas, each of 4 pice or 12 pies. The currency was decimalized in 1961, with the rupee subdivided into 100 paise (singular paisa).

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Coins

1 Anna (no longer minted)
1 Paisa (no longer minted)
5 Paise (no longer minted)
10 Paise (no longer minted)
25 Paise (no longer minted)
50 Paise (no longer minted)
1 Rupee
2 Rupee
5 Rupee
10 Rupee (not yet introduced)

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Banknotes

1 Rupee (no longer printed)
2 Rupee (no longer printed)
5 Rupee (no longer printed)
10 Rupee
20 Rupee
50 Rupee
100 Rupee
500 Rupee
1,000 Rupee
5,000 Rupee (not yet introduced)

The State Bank of Pakistan is responsible for printing Rupee banknotes. All banknotes other than the one and two rupee ones feature a portrait of Muhammad Ali Jinnah on the front along with writing in Urdu. The backsides of banknotes vary in what image they display, and contain information in English. The only Urdu text found on the backsides of banknotes contain the legend "Earning legal livelihood is akin to prayer". Banknotes vary in width and color, with larger denominations being longer than smaller ones, and all containing multiple colors. However, each rupee does have one color that is predominant on it. All banknotes feature a watermark for security purposes. On the larger denomination notes, the watermark is a picture of Jinnah, while on smaller notes, it is a crescent and star. Different types of security threads are also present in each banknote.

**Description of rupee banknotes**
Denomination	Dimensions	Dominant Color(s)	Back Illustration
1 Rupee	95 x 66 mm	Brown	Tomb of Allama Iqbal in Lahore
2 Rupees	109 x 60 mm	Purple	Badshahi Masjid in Lahore
5 Rupees	127 x 73 mm	Burgundy	Tomb of Shah Rukn-e-Alam near Multan
10 Rupees	141 x 74 mm	Green	Mohenjo-daro
20 Rupees	65 x 123 mm	Brown	Mohenjo-daro
50 Rupees	154 x 73 mm	Purple and Red	Alamgiri Gate of the Lahore Fort
100 Rupees	165 x 73 mm	Red and Orange	Islamia College Peshawar
500 Rupees	175 x 73 mm	Green, tan, red, and orange	The State Bank of Pakistan in Islamabad
1000 Rupees	175 x 73 mm	Blue	Tomb of Jehangir in Lahore

**Depiction of rupee banknotes**
Front	Value (Rupees)	Back
Image:Pakistan 1 Rupee f.jpg	1	Image:Pakistan 1 Rupee b.jpg
Image:Pakistan 2 Rupees f.jpg	2	Image:Pakistan 2 Rupees b.jpg
Image:Pakistan 5 Rupees f.jpg	5	Image:Pakistan 5 Rupees b.jpg
Image:Pakistan 10 Rupees f.jpg	10	Image:Pakistan 10 Rupees b.jpg
Image:PakistanPNew-20Rupees-2005-dml f.jpg	20	Image:PakistanPNew-20Rupees-2005-dml b.jpg
Image:Pakistan 50 Rupees f.jpg	50	Image:Pakistan 50 Rupees b.jpg
Image:Pakistan 100 Rupees f.jpg	100	Image:Pakistan 100 Rupees b.jpg
Image:Pakistan 500 Rupees f.jpg	500	Image:Pakistan 500 Rupees b.jpg
Image:Pakistan 1000 Rupees f.jpg	1000	Image:Pakistan 1000 Rupees b.jpg

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Exchange Rate

Image:USDollar-PakRupee-2002-2003.png

The Pakistani rupee depreciated against the US dollar until the turn of the century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.

As of 1 January 2006 1 US Dollar is worth 59.75 Rupees.

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