LBP to PKR Currency Converter - 1 Lebanon Pounds To Pakistan Rupee

LBP to PKR

The exchange rate for currencies is always fluctuating. The exchange rate of Lebanese Pound LBP to Pakistani Rupee PKR is around 0. Here we will discuss why and how this currency exchange rate fluctuates with respect to the economies of both currencies.

LBP

The LBP is the abbreviation of Lebanese Pound. This currency is used in Lebanon. The symbol of this currency can be written as L L. According to research, the Lebanese Pound ranks among the 90 most popular currencies in the world. The central bank for the LBP currency issuance is “Banque du Liban”. In the late 1930s, LBP replaced the former currency Syrian Pound.

In a brief history of LBP currency, there is a long list of national currencies in Lebanon. Before officially becoming LBP, this currency was followed by the Ottoman lira, the Egyptian Pound, the French Franc, and then, at last, the Syrian Pound in 1939.

Lebanon, also known as the Lebanese Republic, is located alongside the Mediterranean Sea in Asia. Therefore, the major exports of the country are gold, different types of metals, and fruits. As we all know, any country's currency value is based on the inflation rate. Consequently, Lebanon has had both high and low inflation rates in the past years. From 2015 - 2018, it ranged between 0.9% to 5.8%.

Lebanon has a developing economy. Their driving force for economic growth is banking and tourism. Both of these sectors play an important role in generating business and in the valuation of the Lebanese Pound.

PKR

The PKR is the abbreviation of Pakistani Rupee. Basically, it is the currency of Pakistan. The representative symbol of the Pakistani Rupee is “ Rs”. One Pakistani Rupee is made of 100 Paise. In 1947, after the independence from Britain, the Pakistani Rupee replaced the Indian Rupee.

Pakistan is an underdeveloped country and has a weak economy. Because of these reasons, the Pakistani Rupee doesn't share any strong relationships with other countries' currency or financials. The Pakistani Rupee currency is going through a financial crisis somehow. On the banknotes of Pakistani Rupee, they feature on one side of note the image of Pakistani founder, Quaid e Azam and Pakistani cultures and landscape images on the other side.

The State Bank of Pakistan is responsible for making monetary policies in such a way that it can enhance economic growth. It could be done by establishing a target in a manner to achieve growth and minimize inflation in the country. In recent years, the financial crisis has hit differently in most of the underdeveloped and developing countries. Despite having several issues, Pakistan shares strong trade ties with Western and Asian countries. Due to this, Pakistani currency has gained more importance in recent years.

LBP and PKR

The currency exchange dealers are responsible for setting the conversion rates for LBP to PKR. These conversion rates are based on open market operations. LBP to PKR is falling around 0, which means, in return of 1 PKR, we can get around LBP. However, LBP is progressing towards betterment more than PKR from the past few years. Nowadays, Pakistan lacks in foreign investment due to which the exchange rates are fluctuating. To build strong relationships with each other, both countries should enhance their trade.