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Exchange rates for the Deutsche Mark in Pakistan / DEM 1 = PKR ... (middle) / up to 1998

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. Yearly average
  4. DEM Deutsche Mark (historical)
  5. PKR Pakistani rupee (Pakistan)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.A.PKR.DEM.CA.AC.A04
Unit PKR
Dimension one
Timespan from 1960 to 1998
Last update 20.09.2023 12:50:16 PM
   
General On 22 July 1998, a multiple exchange rate system was introduced. Exchange rate application 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 (see BBEX3:D:PKR:DEM:CA:AC:000): 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. Listed against the euro as of January 1999, see BBEX3:A:PKR:EUR:CA:AC:A04.
Methodology Generally calculated on the basis of mid-month and month-end buying and selling rates.
Source Since August 1998: State Bank of Pakistan, Karachi Until July 1998: ANZ Grindlays Bank (formerly: Grindlays Bank), Karachi
   
Comment on 1998 The calculation took account of comparable rates determined between the end of July and the end of December 1998.
Comment on 1972 Average from May to December 1972. Average from January to April 1972: DEM 1 = PKR 1.49496. With effect from 11 May 1972, the Pakistani rupee was devalued. We recorded the following exchange rates (buying/selling rate using the indirect quotation method): 29 April 1972: PKR 100 = DEM 67.9095 / 65.6905 15 May 1972: PKR 100 = DEM 29.1967 / 28.4985 On the basis of the above-mentioned rates, the Pakistani rupee experienced a devaluation of 56.8% (on average) against the Deutsche Mark.
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