VEF to PKR Currency Converter - 1 Venezuela Bolivares Fuertes To Pakistan Rupee

VEF to PKR

The exchange rate of Bolivar Fuerte (VEF) to Pakistani Rupee (PKR) is around 0. The exchange rate seems to be fluctuating from time to time because of various reasons. Both countries play an active role in building their economic, political, and commercial relations. The countries are making moves to collaborate with each other in the field of trade. Many efforts are required to build bilateral trade relations. People to people interaction and participation is necessary to enhance the trade relations among countries. The major exports from Pakistan are cotton, human-made staple fiber, and textile products. Mostly imports from Venezuela are pharmaceutical products.

In order to increase trade and investment, both countries should remove tariffs and double taxation problems. Double taxation reduces the trade among Venezuela and Pakistan. However, joint ventures of companies would be a great idea for both countries. Actually, Venezuela can play an important role in increasing the reputation of Pakistan among developing countries. By promoting joint ventures, Pakistani entrepreneurs can establish their business easily. The joint ventures would be beneficial for products like petroleum, energy, medicines, textile, sports goods, etc. Moreover, tourism is yet another factor to be highlighted. Pakistan is famous for its traditional culture and heritage, which attracts tourists from around the world.

VEF

The VEF is the official currency of Venezuela. The abbreviation is Bolivar Fuerte. In the past years, from 1879 to 2008, this currency was known as “Venezuelan Bolivar''. From 2008 the name changed to Bolivar Fuerte (VEF). One Bolívar Fuerte is made up of 100 céntimos. Some famous nicknames of the currency are Bolo or Luca. The Central Bank of Venezuela is responsible for the issuance of Bolivar Fuerte and is the authority in charge as well. The symbol of currency is BS.

According to rankings, the most popular exchange rate is with VEF to USD. The main reason behind Venezuela's economic collapse is high inflation. Hyperinflation was caused because of the reduction in oil prices and exports of the country. Due to which the value of the country's currency is not up to the mark. The banknotes of 2 and 5 denominations of Venezuela Bolivar don't seem to be in regulation due to hyperinflation. The government of Venezuela should develop such strategies and policies to recreate the value of its currency in the international market.

PKR

The PKR is the official currency of Pakistan. The abbreviation for Pakistani Rupee is PKR. One Pakistani Rupee is made up of 100 Paisa. The symbol for the Pakistani Rupee is “Rs”. The devaluation of the currency is the primary factor for inflation in Pakistan. Due to this, the investments become discouraged, and the exports are negatively affected. Through the devaluation of the currency, exports become inexpensive for foreign countries.

In Pakistan, the monetary policies neglected the main objective that is attaining a competitive exchange rate. Furthermore, Strong PKR valuation would reflect a strong economy, but it has failed to attract the competitiveness of the exchange rate in the international market. Although Pakistan has the potential to make it's economy and exchange rates better slowly and gradually.

VEF and PKR

Venezuela has a strong economy than that of Pakistan. That's why its currency is also stronger. 1 VEF is almost equal to 0 PKR. Or we can say that VEF is 0 times stronger then PKR.