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Just looked at Pakistan's currency history and wow, the depreciation story is pretty brutal. Back in 1947 when the country was founded, 1 USD was only 3.31 PKR. Stayed flat for nearly a decade, then gradually started moving. By the mid-50s it hit around 4.76 PKR and basically held there for years.
But here's where it gets interesting - from the 1970s onward, the real decline kicked in. The rupee went from 4.76 to 9.99 by the early 80s, then kept sliding. By 1989 it was already at 20.54 PKR. The 90s saw accelerating depreciation - jumped from 23.80 in 1991 to 51.90 by 1999. That's a massive drop in just 8 years.
The 2000s brought more pressure, especially after 2008 when it hit 81.18. Then 2018-2019 saw another sharp move to 163.75. And the recent years? 2023 hit 286 PKR per dollar, with 2024 sitting around 277. So we're talking about a currency that lost roughly 98% of its value in 77 years.
It's a textbook example of long-term currency depreciation driven by inflation, fiscal issues, and external pressures. Pretty wild when you map out the 1 USD to PKR journey from 1947 to today.