Historical USD to PKR Rate

The chart shows a stable Rupee value against dollar till 1980s after which under the managed exchange regime was followed and Pakistani rupee started fluctuating against the dollar. The PKR on back of slowed economic growth during 1990s devalued from Rs. 20 in 1990 to Rs. 55 in 2000. However, after 2000, under Musharraf regime, Pakistan saw an era of privatization, better governance and increased exports which led to current account surplus on State Bank’s books and thus, Pakistani rupee remained stable from Rs. 62 in 2001 to Rs. 60 in 2007.

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From 2007 to 2013, the huge current account deficits and terrorism in the country led to worsening economic conditions and thus, Pakistan rupee depreciated from Rs. 60 in 2007 to Rs. 101 in 2013. This rate was further kept artificially down by PMLN government despite lower exports and large current account deficits. During last year, the government has adopted a free float regime under IMF programme while reducing subsidies on imports. This led to current spike in Pakistan rupee against dollar from Rs. 121.48 in 2018 to around Rs.158 in March 2020.