Pakistan’s currency, the Rupee, has undergone numerous distinct patterns and forms since its independence in 1947. Pakistan’s currency has a long history, and many changes have been made for the public’s convenience throughout the decades. Until 1971, it was printed in two languages, Urdu and Bengali.
Until the 1980s, decimal coins known as “Paisa” were used. These coins faded out, and currency notes were introduced in their place. These decimal notes were likewise phased out, and coins took their place. We’ve selected some fascinating facts about Pakistan’s currency toward offering you a better understanding of the country’s history.
Rupee Is the Official Currency of Multiple Countries
In the 1500s, Sher Shah Suri issued the first currency bearing the term ‘rupee.’ The Mughal empire existed before India or Pakistan and before British colonization. The first sovereign to use the rupee was King Sher Shah Suri (Afghani-origin), whose capital city was in modern-day India. And it had a long-lasting impact.
The rupee is also the official currency of Indonesia, Maldives, Mauritius, Nepal, Seychelles, Sri Lanka, Pakistan, and India.
Origins of Rupee
Sanskrit is the origin of the word ‘rupee.’ The name “rupee” stems from the Sanskrit Rpya, meaning “silver coin.” The present rupee did not emerge until the 1500s, however, there are references to Rpya silver coins dating back to the mid-300s BC! The rupee is also known as “Rupees,” “Rupaya,” and “Rupaye.”
Rupee Was Used as a Travelers Check
Until 1978; special ‘Hajj notes’ were issued. The number of Pakistani Muslims conducting the Hajj pilgrimage to Saudi Arabia increased dramatically in the 1950s.
The State Bank of Pakistan produced special “Hajj notes”, which functioned as travelers’ checks (to make currency conversion easier). These notes were in use until 1978 when they became valuable collector’s items.
Urdu and Bengali texts were included in early iterations of the Pakistani rupee. During partition, Pakistan was divided into two regions: West & East Pakistan. This meant the country’s two main languages were Urdu and Bengali. This was reflected in the banknotes, which were all multilingual.
Bengali was removed off the notes after East Pakistan became an independent country known as Bangladesh in 1971. The 1-rupee note was the first note in the new series launched in May 1974. However, it was short-lived because the message was written in all four major regional languages, potentially causing a schism.
India’s Role in Printing First Pakistani Rupee
India was the first country to issue Pakistani rupees. The Reserve Bank of India and the Government of India issued and printed the first Pakistani rupees after partition. The term “Government of Pakistan” was then printed or engraved on these 1948 notes. The State Bank of Pakistan eventually took over the process of designing, issuing, and producing rupee banknotes.
Converting your USD, GBP, or any foreign currency into rupees might be challenging if you wish to send money home to your loved ones, or if you intend to send money to Pakistan for your business or to keep your Pakistani bank account growing. Lycaremit is a reputable remittance provider able to send your funds immediately, securely, and at a low cost. Please register with us if you require further information.