PKR is an abbreviation for Pakistani Rupee, the official currency of Pakistan. It is denoted by the international currency code PKR. The Pakistani Rupee is subdivided into 100 paise. It is issued and regulated by the State Bank of Pakistan, the central bank of the country.
The PKR is used as the medium of exchange for all financial transactions within Pakistan. It is accepted as legal tender for buying goods and services, as well as for settling debts and obligations. The PKR is widely circulated and recognized across the nation, with its value fluctuating in the foreign exchange market.
The Pakistani Rupee has a variety of denominations in banknotes and coins, including 5, 10, 20, 50, 100, 500, and 1000 rupee banknotes. Coins are available in 1, 2, 5, and 10 rupee denominations. These various denominations allow for flexibility in transactions of different values.
The value of the PKR against other currencies is subject to change and is influenced by numerous factors such as supply and demand, inflation, and economic conditions within Pakistan and global markets. Exchange rates are determined in foreign exchange markets, and fluctuations in these rates can affect the purchasing power of the PKR.
Overall, the Pakistani Rupee (PKR) serves as the official currency of Pakistan, facilitating domestic transactions and financial activities in the country.
