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Exchange rates for the US dollar in Pakistan * / USD 1 = PKR ... (middle)

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. Yearly average
  4. USD US dollar
  5. PKR Pakistani rupee (Pakistan)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.A.PKR.USD.CA.AC.A04
Unit PKR
Dimension one
Timespan from 1990 to 2023
Last update 12.01.2024 02:14:02 PM
   
General * On 22 July 1998, a multiple exchange rate system consisting of official exchange rates and floating interbank rates was introduced. The official exchange rate (buying/selling rate) was pegged to the US dollar at a rate of USD 1 = PKR 46.00 / 46.23. The floating interbank rates stood at USD 1 = PKR 47.225 / 48.39 on 23 July 1998, and USD 1 = PKR 52.75 / 53.25 on 31 July 1998. From August 1998, a composite rate was published on the basis of the weighted average of both these rates; the ratio of the official exchange rate to the floating interbank rate was initially 50:50. From 21 December 1998, it was 20:80 and from 11 March 1999, it was 5:95. On 19 May 1999, the multiple exchange rate system was unified on the basis of the floating interbank rate. Exchange rates used from 22 July 1998: Official exchange rate: for revenue from financial transactions (excluding foreign direct investment and portfolio investment) and from certain assistance and loan payments; for payments for the import of wheat, edible oils, petroleum products, leguminous vegetables, fertilisers, medicines and pesticides as well as for certain debt service payments. Composite rate: for all other foreign exchange transactions. According to IMF reports, most foreign exchange transactions that were initially subject to the official exchange rate were carried out at the composite rate by the end of 1998.
Methodology Calculated on the basis of mid-month and month-end buying and selling rates. Composite rates from August 1998 to 14 May 1999.
Source Since 2005 National Bank of Pakistan, Karachi December 2001 - December 2004 Deutsche Bank, Private Banking Centre Karachi September 2000 - November 2001 Standard Chartered Grindlays Bank Ltd., Karachi 19 May 1999 - August 2000 ANZ Grindlays Bank, Karachi August 1998 - 14 May 1999 State Bank of Pakistan, Karachi 1990 - July 1998 Grindlays Bank, Karachi
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