Pakistani Rupees

Pakistani rupee
پاکستانی روپیہ (Urdu)
Rs.1000 banknote (obverse)
ISO 4217
Code	PKR
Number	586
Exponent	2
Denominations
Subunit
1⁄100	Paisa (not used)
Nickname	Rupayya , Paisay
Banknotes
Freq. used	10, 20, 50, 100, 500, 1000 Rupees
Rarely used	5000 Rupees
Coins
Freq. used	1, 2, 5, 10 Rupees
Demographics
Official user(s)	Pakistan
Unofficial user(s)	Afghanistan
Issuance
Central bank	State Bank of Pakistan
Website	www.sbp.org.pk
Valuation
Inflation	5.2% (October 2016)
Source	State Bank of Pakistan

The Pakistani rupee (Urdu: روپیہ‎ / ALA-LC: Rūpiyah; sign: ₨; code: PKR) is the currency of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan, the central bank of the country. The most commonly used symbol for the rupee is Rs, used on receipts when purchasing goods and services.

In Pakistan, the rupee is also spelled as "rupees", "rupaya" or "rupaye". As standard in Pakistani English, large values of rupees are counted in terms of thousands, lakh (100 thousand) and crore (10 million), 1 Arab (1 billion), 1 Kharab (100 billion).

The word rūpiya is derived from the Sanskrit word rūpya, which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is` derived from the noun rūpa "shape, likeness, image". Rūpaya was used to denote the coin introduced by Sher Shah Suri during his reign from 1540 to 1545 CE.

The Pakistani rupee was put into circulation in Pakistan after the dissolution of the British Raj in 1947. Initially, Pakistan used British Indian coins and notes simply over-stamped with "Pakistan". New coins and banknotes were issued in 1948. Like the Indian rupee, it was originally divided into 16 annas, each of 4 pice or 12 pie. The currency was decimalised on 1 January 1961, with the rupee subdivided into 100 pice, renamed (in English) paise (singular paisa) later the same year. However, coins denominated in paise have not been issued since 1994.