Indian rupee in pakistan

Pakistan Lost USD 3.7 Billion In 11 Months As Expatriates Used Unofficial Channels For Remittances: Central Bank Data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost USD 3.7 billion in remittances during the first 11 months of FY23 mainly due to a wid­ening exchange rate gap. • • • • • State Bank of Pakistan Pakistan lost at least USD 3.7 billion in the first 11 months of the current fiscal year as expatriates used unofficial channels for remittances due to the huge exchange rate gap, the cash-strapped country's central bank has said. The Pakistani rupee has been in a state of freefall for most of the year due to pressure on the depleting foreign exchange reserves, creating a difference between the inter-bank and private money market exchange rates. Data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost USD 3.7 billion in remittances during the first 11 months of FY23 mainly due to a wid­ening exchange rate gap. Overseas Pakistanis who sent money to their relatives and families apparently resorted to unofficial channels to transfer funds, causing a loss to the official remittances that majorly contribute to helping support the balance of payments, the Dawn newspaper reported. It said the remittances sent by Pakistani expatriates dipped month-on-month by 4 per cent and 10 per cent year-on-year to USD 2.1 billion in May. The inflows tumbled by 12.98 per cent to USD 24.831 billion in 11 months of FY23, co...

INR to PKR The exchange rate of INR to PKR is around 3.5027121. However, this rate keeps on changing continuously depending upon the economic conditions of both countries. So, in this article, we will discuss the variation of INR with respect to PKR. We will also relate them. So let’s have a look. INR INR is the official currency of India. It stands for Indian Rupee. The Rupee is further divided into Paisa. But now it is not used due to its low value. The Reserve Bank of India controls the issuance of the currency. If we compare it with the United States Dollars to check its strength, it is a very weak currency. You will notice a considerable variation between them in the exchange rate, which is around 81.90204 from USD to INR. It means 1 US Dollar is equal to 81.90204 Indian Rupees. So, you can see that it is a much weaker currency. Moreover, as compared to other currencies, it is relatively weaker. However, it is still better than the currencies of other developing countries. It is not considered a worthy currency in the international market due to its low value. There are several reasons behind this weak economy. The first reason is the very large population, which has affected the economy very badly. The higher imports than exports are also a reason. Inflation is also a cause of this condition. PKR PKR is the official currency of Pakistan. It stands for Pakistani Rupees. One Rupee is subdivided into 100 Paisa. It is not further issued due to an extremely low value. The...