Euro to PKR Currency Rate Today
Euro Rate in Pakistan Today is Rs: 200
|29-03-2022||EUR||198 PKR||200 PKR|
|28-03-2022||EUR||199 PKR||201 PKR|
|27-03-2022||EUR||199 PKR||201 PKR|
|26-03-2022||EUR||198.5 PKR||200.5 PKR|
|25-03-2022||EUR||197.5 PKR||199.5 PKR|
Table of Contents
Euro to Pakistani Rupee Exchange Rate
In Pakistan, the Euro exchange rate is quite high, and it is expected to continue to rise in value in the future. Many years ago, the lowest value of the Euro in Pakistan was around 80 Rupees. It has now crossed the 100-Rupee mark and is constantly increasing in value. Because of the poor economic and financial links between the European Union and Pakistan, our currency continues to depreciate on the international market.
There is no trade balance between Pakistan and the European Union, which is one of the main reasons why we are taxed more for our imports and given less for our exports. This has resulted in a severe economic and financial crisis in Pakistan in recent years. Citizens must bear the burden of international debt repayment as well as rising fuel and other utility prices.
Pakistan’s economic and financial sectors are still in the early stages of development. Until Pakistan achieves perfect stability in the aforementioned sectors, the Euro will remain one of the most expensive currencies to exchange in Pakistan, whether on the open market or through a bank.
The current Euro rate in Pakistan is Rs. 200, up from Rs. 201 yesterday. The EUR/PKR exchange rate varies every hour; we’ve solved our users’ problem by providing a complete history and record of the last 05 days.
The History of Euro Currency
Looking back on the Euro’s history, it became a currency in 1999, following a 20-year attempt to create a single legal currency for all European countries. The majority of the countries who signed the Maastricht Treaty changed their currencies to the Euro. Other local currencies were not authorised to compete with the Euro on a national level during that time. At first, the Euro was merely an electronic currency. In January 2002, it was designated as a legal tender currency. With each passing day since its inception, the Euro has strengthened the European economy.
Local currencies such as the French Franc, German Mark, and Italian Lira were obsolete after 2002. Not only did the Euro become a single recognised legal currency, but it also marked the history of centralised monetary policy in Europe. In comparison to the US Dollar, the Euro’s market position has historically fluctuated, but it has always been higher in value than the US Dollar and is one of the world’s most valuable currencies. With the passage of time, it has established roots in a variety of financial markets all around the world.
The Reserve Currency
Euro, like the Dollar, is a reserve currency that has essentially strengthened its position in the global economy. Many international banks store Euro in excess, which affects their exchange rate, smooths out transactions, and aids in debt repayment.
Currently, the Euro is a legitimate currency in 17 European countries, including:
Every year, a large number of tourists visit European countries, particularly Spain, Italy, and France. Over the last few years, the Euro’s exchange rate has steadily risen.
After the US Dollar, the Euro is the second most traded currency. Apart from Euro, it is known in Ireland as Yoyo, in Spain as Leru/ Pavo, in german as Teuro, and in Finland as Ege. Euro is represented by the symbol € cent. It has a 0.10 percent inflation rate. The European Central Bank is the international central bank that regulates the Euro. €1, €2, 5 cents, 10 cents, 20 cents, and 50 cents are the most often used coins. The most common bank notes are €5, €10, €20, €50, and €100.