The national currency of Pakistan is the Pakistani Rupee.
Understanding the Pakistani Rupee (PKR)
The Pakistani Rupee is the official currency of Pakistan, commonly abbreviated as PKR in financial markets. It plays a central role in the nation's economy, facilitating all domestic transactions, from daily purchases to large-scale investments.
Key Characteristics
Here are some essential facts about the Pakistani Rupee:
- Official Name: Pakistani Rupee
- ISO Code/Abbreviation: PKR
- Subdivision: One Pakistani Rupee is divided into 100 smaller units called paise. While paise are still a theoretical subdivision, they are rarely used in daily transactions due to their low value.
- Local Symbols: The currency is often represented locally by symbols such as Rp or Rs.
- Common Nicknames: In common parlance, it is frequently referred to as "rupees," "rupaya," or "rupaye" by locals.
Summary of Pakistani Rupee
| Feature | Description |
|---|---|
| Official Name | Pakistani Rupee |
| Abbreviation | PKR |
| Subdivision | 100 paise |
| Local Symbols | Rp, Rs |
| Common Terms | Rupees, Rupaya, Rupaye |
| Country | Pakistan |
Practical Insights
The value of the Pakistani Rupee is influenced by various economic factors, including inflation, interest rates, and the country's balance of payments. The State Bank of Pakistan serves as the central bank, responsible for its issuance, management, and regulation to maintain economic stability. For anyone dealing with finances in Pakistan, understanding the PKR and its common designations is fundamental.
[[Pakistani Rupee]]
