Pakistani Rupee

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Pakistani Rupee

The currency of Pakistan. It was issued when Pakistan became independent in 1947. Originally, the rupee was divided into 16 annas, which each containing four pice. However, in 1961, it was decimalized and divided simply into 100 pice. Because of inflation, pice have not been issued since 1994. It is a floating currency.
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References in periodicals archive ?
"The target tax to GDP is 13.8 percent, the target budget deficit is 1.9 trillion Pakistan rupees or 4.9 percent of GDP, and the target net public debt to GDP is 63.2 percent," Ismail said.
The current expenditure of the federal government was estimated at 4.78 trillion Pakistan rupees, and development expenditure set at 1.152 trillion Pakistan rupees.
The defense budget has been set at 1.1 trillion Pakistan rupees from 999 billion Pakistan rupees, which is 18.5 percent of the total outlay.
"Another 100 billion Pakistan rupees has been allocated to the Armed Forces Development Program," Ismail said.
Abbas Masud, Ex- Executive Vice President of United Bank Limited (UBL) in Dubai, told Gulf News that Pakistan Rupee fell approx 5% today (Wendesday) because of a combination of factors; a decision to totally remove any State support (which was already lessened by the current Goverment) to the currency, as well as negative sentiment, both in lieu of the perceived conditions set in the latest IMF-Pakistan agreement.
He added:"Decline in the fortunes of Pakistan Rupee, was expected in any case, as it was artificially propped up by previous governments.
Decline in the fortunes of Pakistan Rupee, was expected in any case, as it was artificially propped up by previous governments - Abbas Masud, Ex-Executive Vice President of United Bank Limited IMF deal impact

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