Pakistani Rupee PKR

The Pakistani rupee is the official currency of Pakistan. It is also unofficially used in Afghanistan. This currency is issued by the State Bank of Pakistan. Banknotes in circulation include denominations of 1, 2, 5, 10, 20, 50, 100, 500, 1000, and 5000 rupees, and coins are available in 1, 2, 5, 10, and 20 rupees.

History of the Pakistani Rupee

The Pakistani rupee was introduced in 1947. The first coins and banknotes were issued in 1948, and they were equivalent to the Indian rupee. In 1961, the rupee was subdivided into 100 paisas. In 1994, paisas were discontinued, and the minting of paisa coins was halted.

Interesting Facts about the Pakistani Rupee

The word "rupee" is derived from the word rūpya, which means "coined silver." Until 1971, the rupee was not recognized in international trade, and transactions were conducted in gold.