The Pakistani rupee was put in circulation after the country became independent in 1947.

The currency was decimalized in 1961, with the rupee subdivided into 100 paise (singular
paisa).

ISSUING AUTHORITY: State Bank of Pakistan

Coins

(1 Anna, 1 Paisa, 5 Paise, 10 Paise, 25 Paise (no longer minted))

50 Paise, 1 Rupee, 2 Rupee, 5 Rupee, 10 Rupee

Banknotes
(1 Rupee, 2 Rupee, 5 Rupee (no longer printed) )
10 Rupee, 20 Rupee, 50 Rupee, 100 Rupee, 500 Rupee, 1,000 Rupee, 5,000 Rupee

CURRENCY IMPORT/EXPORT RESTRICTIONS:

Up to 3000 Rupees may be imported / exported, except with India. Only 500 Rupees may
be imported/exported with India. Foreign currency may be imported/exported for free.

Current PKR exchange rates: As of June 9, 2006, the rate was, 1 USD = Rs. 60.110, 1
EUR = Rs. 76.015, 1 CNY = Rs. 7.5032.

The Pakistani rupee declined against the USA dollar until the start of the century, when
Pakistan's current account surplus pushed the rupee up.
The inflation pressures (and outlook), that caused concerns until 2005 , at last began to
ease in 2006, potentially in response to both, tight monetary policy pursued by SBP,
which arrested the uptrend in core inflation, and better supply management of essential
food items by the Government of Pakistan, which helped a fall in broad inflation.

In Pakistan KIBOR Rates are often an important statistic. These are Karachi Interbank
Offered Rates (KIBOR) KIBOR-Rates

KIBOR is the average asking price of the loans to be made by one bank to another, it has
nothing to do with the banks lending to corporates. That is why when banks quote
KIBOR-based prices for loans to their customers, it is the premium they demand over
KIBOR, and not KIBOR itself that really takes into account the credit worthiness of the
borrower and the prospects of loan recovery or default. KIBOR is defined as the Average
rate, Ask Side, for the relevant tenor, as published on Reuters page KIBOR or as
published by the Financial Markets Association of Pakistan in case the Reuters page is
unavailable.

NIBAF stands for National Institute of Banking and Finance and was set up under the
Companies Ordinance 1984 with a paid up capital of Rs250.0 million. The equity was
contributed by the Nationalized commercial banks and Pakistan Banking Council that
held 3% of the shares in its name. Consequent upon dissolution of Pakistan Banking
Council (PBC) in 1997 State Bank of Pakistan took over the assets and liabilities of PBC
and also decided to purchase of assets of NIBAF. In February 1997 the Training
Department of the State Bank was shifted to NIBAF premises at Islamabad and
commence functioning as State Bank Training Institute (SBTI) Islamabad.
At present NIBAF has been reorganized and restructured .Its staffing has been reviewed
and institutional arrangements have been put in place to make it as an institution of
Marketable repute.

In 2000 it was reported that the Pakistani rupee has almost become legal tender in
Afghanistan and both buyers and sellers now prefer Pakistan currency than their own
currency Afghani. During recent visits to Kandahar in southwestern Afghanistan and to
Jalalabad in the east of the war-ravaged country, a correspondent witnessed transactions
being openly carried out in the Rupee.

http://www.sbp.org.pk/ State Bank of Pakistan

The State Bank of Pakistan is the Central Bank of the Islamic Republic of Pakistan. The
Bank started its operations on 1st of July 1948

State Bank of Pakistan

Central Directorate
I.I. Chundrigar Road
Karachi
Pakistan.

SBP will continue to monitor inflationary pressures. Additional policy firming may be
considered as required in pursuit of maintaining the dual objectives of price stability and
economic growth. In that respect SBP will remain prudent in responding to changes as
needed to foster these objectives. Macroeconomic stability would also be helped by a
continuation of fiscal discipline. Also, lower the reliance on short term funding by the
government, by raising its requirements from the longer tenor Pakistan Investment Bonds
(PIBs) will aid in strengthening government debt management, while offering a longterm
reference rate to the market and pushing out and shaping the yield curve.

Foreign terms for nation.

Spain = República Islámica de Pakistán o Pakistán

Esperanto = Pakistano

Pakistan, officially the Islamic Republic of Pakistan, is a nation located in Southern Asia
that overlaps the Greater Middle East. It has a thousand km coastline along the Arabian
Sea in the south and borders Afghanistan and Iran to the west, India to the east and the
People's Republic of China in the far northeast. Population: 2006 est. 163,985,373