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Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar to match the Indian rupee's value. [23] This fixed exchange rate was maintained until 11 May 1972, in which the rupee was devalued to Rs.11 ...
Exchange rate history of the Indian rupee. This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence ...
v. t. e. In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. [ 1] Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. [ 2]
The average monthly Social Security check as of June 2024 was $1,918. That totals just over $23,000 per year. Your total lifetime benefit depends on the number of years you claim checks, which ...
The foreign exchange market ( forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
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The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [14] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...
Amid these economic dynamics, Pakistan underwent a structural transition. The GDP share of agriculture declined from 53% in 1947 to 21.2% in 2010, while the GDP share of industry rose from 9.6% in 1949–50 to 25.4% in 2010. Additionally, the GDP share of the services sector increased from 37.2% in 1950 to 53.4% in 2010.