Exchanging 100 Indian rupee in Pakistan yields 331.69 Pakistani rupees, showcasing the currency’s exchange rate dynamics.

Indian Rupee

Indian Rupee(₹) is the official currency of the Republic of India. The Reserve Bank of India(RBI) is the Central Bank of India which is responsible for controlling, maintaining, and circulating Indian rupees. Rupees which include coins of ₹1, ₹2, ₹5, ₹10, and ₹20 made from ferritic stainless steel are legal tender coins that are valid in the entirety of Indian state. Apart from this current circulating notes are ₹5, ₹20, ₹50, ₹100, and ₹ 500 of the Mahatma Gandhi series are also legal tender banknotes in circulation around the country.

Pakistani Rupee

Pakistani Rupee(Ps) is the official currency of the Islamic Republic of Pakistan. The State Bank of Pakistan(SBP) is the Central Bank of Pakistan which is responsible for maintaining and controlling the Pakistani Rupees. Pakistani Rupees include coins of Re 1, Ps 2, Ps3, Ps5  and Ps 10 along with banknotes of Rs. 10/-, Rs. 20/-, Rs. 50/-, Rs. 75/-, Rs. 100/-, Rs. 500/-, Rs. 1,000/- and Rs. 5000/-.

Currency Exchange rate (100 Indian rupee in Pakistan)

Currency Exchange Rates are the rate at which one currency is exchanged for another. The exchange rate is also regarded as the value of one country’s currency in relation to another currency for example $1 is worth ₹83.17 or the Australian dollar is ₹53.58.

Pakistani Rupee is worth ₹0.28 Indian rupee which we will discuss further in the article.

Political stability, GDP growth, inflation & deflation, interest rates, etc. affect the currency exchange rate. For example, Pakistan is undergoing a ~35% inflation rate, so Pakistani currency is losing value at a high rate, it’s value used to be 0.42 Indian rupee at the start of 2022 compared to 0.28 INR.

₹100 Indian rupees converted to Pakistani rupees is Rs 331.69 Pakistani rupee in September of 2023. Last year in September it would have been ~Rs 224 Pakistani Rupees.

Exchanging 100 Indian rupee in Pakistan yields 331.69 Pakistani rupees, showcasing the currency’s exchange rate dynamics.

How to convert the currency

First, you should current currency exchange rates from online conversion calculators, checking financial news, and from banks.

Options available for currency conversion:-

1) Banks

Local banks in either India or Pakistan offer foreign currency exchange services. These are secure and reliable but may include charges for currency conversions

2) Currency exchange bureaus

These bureaus are commonly found in international airports, major tourist destinations, etc. These offer quick and easy service but may charge a lot for converting the currencies.

3) Online currency services 

Though these don’t offer an exchange of physical foreign currency, they can be used for making online currency exchanges or for transactions in foreign currency.

4) ATMs

One may withdraw money in foreign exchange if they have a debit or credit card that is internationally accepted; for example VISA or Mastercard. These are convenient for travelers or visitors as they cut the need for travel to change currencies in banks or bureaus and also reduce the need to carry a large sum of cash.

Conclusion

The choice of where to convert depends on your circumstances and convenience. Be sure to compare rates and also consider factors such as exchange rates, and fees, when making currency exchange. Keep in mind that currency exchange rates can keep changing and fluctuating so keep yourself informed so you can keep most of your hard-earned money.

This Blog is written by Aditya Sahijpal.