PKR information
About the Pakistani Rupee (PKR)
What Is the Pakistani Rupee (PKR)?
The Pakistani Rupee, with the ISO code PKR, is the official currency of the Islamic Republic of Pakistan. It was officially adopted in 1949, taking over from the Indian Rupee post-partition. The currency is symbolized as Rs and is subdivided into 100 paise, although paise coins are no longer in active circulation. The Pakistani Rupee is the sole legal tender in Pakistan, and it is used for all transactions within the country.
The Pakistani Rupee is issued by the State Bank of Pakistan, which is the central bank of the country. The State Bank of Pakistan is responsible for the regulation and control of the currency, including its issuance, distribution, and monetary policy management. This role includes ensuring the stability of the currency, managing Pakistan's foreign exchange reserves, and overseeing the country's banking system
What Is the History of PKR?
The term "Rupee" is derived from the Sanskrit word "Rūpya," meaning a coin of silver. The Pakistani Rupee has its roots in the currency introduced by Sher Shah Suri in the 16th century. It was officially adopted in 1949, following the partition of British India and the creation of Pakistan. Before this, the currency in circulation was the Indian Rupee, issued and controlled by the Reserve Bank of India.
Notes and Coins of PKR
The first coins in Pakistan were introduced in 1948 in various denominations, ranging from 1 pice to 1 rupee. Over the years, the coinage has evolved, with the latest additions being the Rs. 5 and Rs. 10 coins. Banknotes have also seen significant changes, with the current series featuring denominations from Rs. 5 to Rs. 5,000. These notes are distinct in their color and size, with larger denominations being longer. All banknotes feature a portrait of Muhammad Ali Jinnah on the obverse.
Economic Significance and Exchange Rate
The Pakistani Rupee is a fiat currency, meaning its value isn't backed by physical commodities but by the government's declaration. Historically, the rupee was pegged to the British pound and later operated under a managed float system. This shift led to significant devaluation in the 1980s, impacting the import of raw materials and the broader economy.
In recent years, the PKR has faced challenges, including a sharp devaluation in 2021 due to political instability and economic pressures. However, as of late 2023, it has shown signs of recovery, becoming one of the best-performing currencies against the US dollar.
Do Pakistan and India use the same currency?
No, Pakistan and India do not use the same currency. Pakistan uses the Pakistani Rupee (PKR), while India uses the Indian Rupee (INR). Although both currencies share a common historical origin and are both named "rupee," they are distinct and separate currencies managed by their respective countries. The Pakistani Rupee is managed by the State Bank of Pakistan, and the Indian Rupee is managed by the Reserve Bank of India. The two currencies have different values and are not interchangeable.
MASS to PKR conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | ₨0.8874 | 0.0200% / 0.0320%VIP 7 |
How to buy Massnet
Buy MASS (or USDT) for PKR (Pakistani Rupee) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
---|---|---|---|---|
1 1USDT Giveaway-2 4395 trades|Completion rate 99.00% | 30 PKR | Amount379 USDT Limit30 - 30 PKR | ||
E Exclusive Traders 1205 trades|Completion rate 95.00% | 290.2 PKR | Amount1.74 USDT Limit100 - 31103 PKR | ||
_ _Fast_Trader 378 trades|Completion rate 99.00% | 290.27 PKR | Amount1945.11 USDT Limit25000 - 400000.88 PKR | ||
P Professional-trader 606 trades|Completion rate 99.00% | 291 PKR | Amount94.28 USDT Limit300 - 49516 PKR | ||
C Ch_Ibraheem 167 trades|Completion rate 91.00% | 291.48 PKR | Amount10.77 USDT Limit3000 - 8138 PKR |
Sell MASS (or USDT) for PKR (Pakistani Rupee) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
---|---|---|---|---|
A AwaisTraders 527 trades|Completion rate 96.00% | 287.34 PKR | Amount96.45 USDT Limit1000 - 20000 PKR | ||
L LUCKY_MUZAMIL 392 trades|Completion rate 99.00% | 287.33 PKR | Amount13.58 USDT Limit2000 - 3900 PKR | ||
M MALIK_217 1104 trades|Completion rate 98.00% | 287.33 PKR | Amount107.51 USDT Limit3000 - 28500 PKR | ||
Z ZALMI .TRADERS 469 trades|Completion rate 98.00% | 287.31 PKR | Amount45 USDT Limit3000 - 12928.95 PKR | ||
T Tilawat Traders 474 trades|Completion rate 96.00% | 287.3 PKR | Amount138.71 USDT Limit1000 - 60000 PKR |
What factors influence the conversion rate of Massnet to Pakistani Rupee?
Massnet to Pakistani Rupee is falling this week.Conversion tables
The exchange rate of Massnet is decreasing.MASS to PKR
PKR to MASS
Today vs. 24 hours ago
Amount | 00:32 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 MASS | $0.001596 | $0.001635 | -2.39% |
1 MASS | $0.003192 | $0.003270 | -2.39% |
5 MASS | $0.01596 | $0.01635 | -2.39% |
10 MASS | $0.03192 | $0.03270 | -2.39% |
50 MASS | $0.1596 | $0.1635 | -2.39% |
100 MASS | $0.3192 | $0.3270 | -2.39% |
500 MASS | $1.6 | $1.64 | -2.39% |
1000 MASS | $3.19 | $3.27 | -2.39% |
Today vs. 1 month ago
Amount | 00:32 am today | 1 month ago | 1M change |
---|---|---|---|
0.5 MASS | $0.001596 | $0.002052 | -22.22% |
1 MASS | $0.003192 | $0.004104 | -22.22% |
5 MASS | $0.01596 | $0.02052 | -22.22% |
10 MASS | $0.03192 | $0.04104 | -22.22% |
50 MASS | $0.1596 | $0.2052 | -22.22% |
100 MASS | $0.3192 | $0.4104 | -22.22% |
500 MASS | $1.6 | $2.05 | -22.22% |
1000 MASS | $3.19 | $4.1 | -22.22% |
Today vs. 1 year ago
Amount | 00:32 am today | 1 year ago | 1Y change |
---|---|---|---|
0.5 MASS | $0.001596 | $0.001216 | +31.31% |
1 MASS | $0.003192 | $0.002432 | +31.31% |
5 MASS | $0.01596 | $0.01216 | +31.31% |
10 MASS | $0.03192 | $0.02432 | +31.31% |
50 MASS | $0.1596 | $0.1216 | +31.31% |
100 MASS | $0.3192 | $0.2432 | +31.31% |
500 MASS | $1.6 | $1.22 | +31.31% |
1000 MASS | $3.19 | $2.43 | +31.31% |
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