JOD to PKR Currency Converter - 1 Jordan Dinars To Pakistan Rupee

JOD to PKR

The rate of exchange from JOD to PKR is around 0 Pakistani Rupees. The exchange rate varies depending upon the economic stability of a country. To keep the economy of a country stable, there are a lot of factors that need to be considered. Correlations with other countries also help in keeping the economy strong and steady. Other factors like financial reserves, the balance of payments, and political stability also play a huge part in affecting the rate of exchange. The relationship between JOD and PKR and the effect they have on each other is explained below.

JOD

JOD stands for Jordanian Dinar. It is the national currency of Jordan. The currency symbol for the Jordanian Dinar is JOD. It became Jordan’s official currency in 1950. The previous currency was the Palestinian Pound. The Jordanian Dinar was created after the Jordan Currency Board was established to issue and circulate the currency.

The Jordanian Dinar has small denominations. For example, one Dinar is equal to 10 Dirhams. The currency is circulated in the form of coins and banknotes by The Central Bank of Jordan. The banknotes are circulated in denominations of 1, 5, 10, 20, and 50 Dinars. The coins are currently circulated in denominations of 1, 2.5, 5, and 10 piastres. They are also circulated in denominations of 0.25, 0.5, and 1 Dinar.

The coins were initially denominated in Arabic and then were changed to English after 1992. The Jordanian Dinar is pegged to the US Dollar for the past twenty years. Jordan pegged their currency to US Dollars to establish financial stability. When a country pegs its currency to another currency, they develop less risk to exchange rate fluctuation. It helps to stimulate foreign investment and maintain stability.

JOD is a very stable and strong currency as compared to others. It is mainly because it is pegged to US Dollars. By pegging the Dinar to US Dollars, Jordan accomplished monetary stability, an increase in foreign investments, and had a strong economy.

PKR

PKR stands for Pakistani Rupees. It is the national currency of Pakistan. The Pakistani Rupee superseded the Indian Rupees in 1947. At first, the Pakistani Rupee was pegged to the British Pound. Then in 1982, the government decided to implement the floating policy, which precipitated a financial crisis.

The minimum coin in Rupees is 1 Rupee coin. The coins are circulated in the denomination of Rs 1, 2, and 5 by the Central Bank Pakistan. The banknotes are also circulated in the denominations of Rs 10, 20, 50, 100, 500, 1000, and 5000.

The economy of Pakistan is very vulnerable and unstable. It leads to an increase in the fluctuation of the foreign exchange rate. The currency is being depreciated due to unstable relations with other countries and a fraudulent global image.

JOD and PKR

JOD is a much stronger currency as compared to PKR. The exchange rate varies because of the economic conditions of a country. PKR is a weak currency with a high volatility rate. The Jordanian Dinar is a stable currency as it is pegged to the US Dollar, which helps in maintaining financial stability and an increase in foreign reserves as well.