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Interesting to see how Pakistan's rupee has been on a long depreciation journey. Back in 1947 when the country was founded, 1 dollar got you just 3.31 rupees. That stability lasted nearly a decade.
But then things started shifting. By the mid-50s it moved to 3.91, then 4.76 through the 60s and early 70s. The real acceleration kicked in from the 80s onward. In 1989 it was already at 20 rupees per dollar, and the pace quickened dramatically from there.
Looking at the 2000s, you can see the pressure intensifying. 2001 hit 63 rupees, and by 2008 during the financial crisis it jumped to over 81. The last few years have been rough though - from 240 in 2022 to 286 in 2023. Currently sitting around 277 as we head into 2024.
It's a stark reminder of how currency values can shift over decades. The dollar-to-rupee story since 1947 really shows the economic pressures Pakistan has faced, especially in recent years. Wild to think about what the next few years might bring.