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Just went down the rabbit hole looking at Pakistan's currency history and man, the depreciation story is wild 👇
So back in 1947 when the country was founded, 1 USD was just 3.31 PKR. Pretty stable for like a decade actually. Then things started moving - by the mid-50s it crept up to around 4.76 PKR and just stayed there for years.
But here's where it gets interesting. The 1970s hit and suddenly we see a jump to 11 PKR, then it kept climbing. By the late 80s you're looking at 20+ PKR per dollar. The 90s? Forget about it - went from 23 PKR in 1991 to 51 PKR by 1999.
The 2000s were brutal too. 2008 financial crisis pushed it to 81 PKR. Then 2018-2019 saw another spike to 163 PKR. But the real shock came recently - 2022 hit 240 PKR and 2023 was 286 PKR. Current rate sitting around 277 PKR.
So basically in 77 years the rupee lost like 98% of its value against the dollar. That's the 1947 dollar rate in Pakistan story - from 3.31 to 277. Pretty sobering when you see it all laid out like this.