1 USD to PKR in 1947 : A Historical and Economic Journey of Pakistan’s Currency (October Update)
In October 2025, the US Dollar is trading around PKR 283.10, showing a slight improvement from the previous month. But if we look back to 1947, the value of 1 USD was only PKR 3.31. This long journey of the Pakistani rupee tells a story of economic growth, inflation, political changes, and global market shifts.
From independence to today’s digital economy, the USD to PKR exchange rate reflects how Pakistan’s financial system has evolved. Every decade brought new challenges — from devaluations and global recessions to IMF programs and remittances that shaped the country’s currency path.
USD to PKR Exchange Rate (1947–2025)
| Year | 1 USD = PKR | Key Economic Event |
|---|---|---|
| 1947 | 3.31 | Pakistan’s independence; the rupee was linked to the British pound. |
| 1950 | 3.31 | Stable exchange under British monetary influence. |
| 1955 | 4.76 | First devaluation to boost exports. |
| 1960 | 4.76 | Strong economy; stable industrial growth. |
| 1966 | 4.76 | Continued stability despite regional tensions. |
| 1972 | 9.90 | Devaluation after East Pakistan’s separation; the rupee floated. |
| 1980 | 9.90 | Growth through remittances from the Middle East. |
| 1982 | 12.85 | Shift to a managed floating exchange system. |
| 1990 | 21.71 | Liberalization and the start of financial reforms. |
| 1995 | 30.10 | Rising imports and trade gap. |
| 2000 | 51.90 | Political instability and global sanctions. |
| 2005 | 59.50 | Remittances grow; rupee gains some strength. |
| 2008 | 70.65 | Global financial crisis hits Pakistan’s economy. |
| 2009 | 83.50 | Economic slowdown; inflation pressure increases. |
| 2013 | 98.50 | IMF loan helps stabilize the exchange rate. |
| 2016 | 104.70 | Moderate inflation and stable policy. |
| 2018 | 138.00 | Rupee devaluation during IMF negotiations. |
| 2020 | 160.10 | COVID-19 pandemic affects trade and reserves. |
| 2021 | 177.10 | Inflation and global commodity prices surge. |
| 2022 | 224.00 | Political crisis and high import bills. |
| 2023 | 286.58 | Record depreciation due to default fears. |
| 2024 | 284.25 | Stability returns after IMF reforms. |
| 2025 (October) | 283.10 | Slight recovery due to improved reserves and exports. |
Why the Dollar Rate Mattered in 1947
At independence, Pakistan inherited a debt-free economy with a currency tied to the British pound. The dollar rate of PKR 3.31 remained stable due to the Bretton Woods system, which fixed global currencies to gold. During this period, trade was mostly in rupees or pounds, and the US dollar was used for limited international transactions like imports or foreign aid.
By 1955, Pakistan’s growing need for industrialization and imports led to its first currency devaluation. Over the decades, multiple political and global events — including wars, oil crises, and IMF agreements — shaped the dollar’s steady rise against the rupee.
October 2025 Update
In October 2025, the dollar rate remains around PKR 283.10, slightly lower than in August (PKR 283.35). The State Bank of Pakistan reported stronger remittances and better foreign exchange reserves. Exports in textiles and IT services also contributed to this stability. However, experts warn that any increase in global oil prices could again put pressure on the rupee.
Final Words
The journey from PKR 3.31 in 1947 to PKR 283.10 in 2025 highlights Pakistan’s economy’s challenges — inflation, debt, and political uncertainty. Still, with stronger exports, digital banking growth, and better financial management, Pakistan is now showing signs of gradual improvement.
