Types Pakistani Currency Notes and Coins

Types Pakistani Currency Notes and Coins

Before talking about Pakistani currency notes and coins, I will tell you about the currency and the word used for Pakistani currency. Therefore, the word currency is derived from the Latin word “currens” which is related to money. The word currency is commonly used for money in any form which is used to buy or sell goods and circulating notes or coins. In simple words, the definition of currency is the system of money commonly used in the whole world. Now it’s time to deeply explain Pakistani currency.Types Pakistani Currency Notes and Coins

Pakistani Currency

In Pakistan, the currency has two forms, notes, and coins. The word “rupee” is used for Pakistani currency and is also spelt as “rupaya”, “rupees” or “rupaye”. The word “rupya” is derived from the Sanskrit word “rupya” which meaning is “wrought silver” a coin of silver.

Pakistani Rupee

The Pakistani rupee issues from the state bank of Pakistan and the Central Bank of the country. The rupee sign: RS; and the code; PKR; and also referred to as the PKR rupee. The most common symbol is used for money in Pakistan is RS, when the consumer buys or sells goods. The Pakistani rupee has two types, coins, and notes. Let’s talk about the definition of coins and notes.

Pakistani coins

The Pakistani coin was first time introduced in 1948 from the state bank of Pakistan in the denomination of 1 piece, 1⁄2, 1, and 2 annas, 1⁄4, 1⁄2, and 1 rupee. 1 pie coin was included in 1951. In 1961, coins of 1, 5, and 10 rupees were released, later this year, money, 5 and 10 rupees after coins. In 1963, 10 and 25 money coins were introduced, then 2 paise in the next year. 1 rupee coins were re-created in 1979, followed by Rs 2 in 1998 and 5 rupees in 2002. Coins 2 stuck in the last year of 1976, 1 paisa lost production in 1979. 5, 10, 25 and 50 paisa all production was stopped in 1996. There are two varieties of 2 rupee coins, the backside clouds above the Badshahi Mosque and the front side above with the name of Pakistan and the sign of the Pakistani flag.

Depending on the money, the money deposited in Paisa declined to be a legal tender in 2013, at least 1 rupee as minimum legal tender. On 15 October 2015, the Pakistani government decided to change the 5 rupee coin and they were introduced lightweight and small size coins with heaving a golden colour, which is made from copper-nickel-zinc. In 2016, the state bank of Pakistan also released 10 rupee coins for circulation.

Pakistani Notes

The first note of Pakistan was released by the reserve bank of India on the behalf of Pakistani government on 1 April 1948. These notes contain the name “GOVERNMENT OF PAKISTAN” in English and “Haqumat-E-Pakistan” in Urdu, added at the top and bottom of the note, these notes are only used in Pakistan. The reserve bank of India has issued 1, 5, 10, and 100 rupee notes up to 1948 and continued to issue 1 rupee note until the 1980s and the other note overtaken by the state bank of Pakistan in 1953. The state bank of Pakistan has issued 2, 5, 10, and 100 rupee notes and after some years state bank of Pakistan also was introduced 50 rupee notes and stopped 2 rupee notes in 1957.

In 1985, the state bank of Pakistan reintroduced 2 rupee notes and 500 rupee notes were also introduced in 1986. 1000 rupee note also introduced by the government of Pakistan in the next two years. By the time The 2 and 5 rupee notes were replaced by the coin from the state bank of Pakistan between the years of 1998 to 2002. 20 rupee note was released in 2005 and 5000 rupee note were introduced in 2006.

The Pakistani banknotes heaving with the portrait of Muhammad Ali Jinnah and observed with the writing in Urdu. All banknotes which are issued by the state bank of Pakistan vary a design with the translation of prophet hadit in Urdu, which is written as “Seeking honest livelihood is the worship of God.” which is حصول رزق حلال عبادت ہے ‬ (Hasool-e-Rizq-e-Halal Ibaadat hai). These words are written on the top and bottom of the notes.

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