The currency of Pakistan is the Pakistani Rupee which has been used since 1948. The term Rupee or Rupiya is derived from the Sanskrit word Rupya, which means “a coin of silver”. Prior to independence, Pakistan used the British Indian coins, and when they gained independence in 1947, they used the same coins but had “Pakistan” stamped over the top.
The Rupee’s coin denominations include 1, 5, and 10 and their banknotes are 10, 20, 50, 100, 500, 1000 and 5000. The most recent bank notes have been in circulation since 2005.
In the 1970s the Rupee was pegged to the US Dollar and later the British Pound in the 80s. It is no longer pegged to any other currency, and since the 2000s has lost a significant amount of its value. In 2008 it was around 79 PKR to 1 USD and has now dropped to 262 PKR to 1 USD as of February 2023.
The notes have depictions of famous places all around Pakistan such as the Khyber pass, K2, Mohenjo Daro and the Faisal masjid in Islamabad. The reverse side of the notes shows Muhammad Ali Jinnah, who is considered to be the founder of Pakistan.
