The Islamic Republic of Pakistan has the second-largest Muslim population in the world. The country is situated in South Asia, bordered by India, Afghanistan, Iran, and China, with coastlines along the Arabian Sea and the Gulf of Oman. Pakistan is an important stop of several ancient civilizations such as the Indus Valley Civilization, the Neolithic site of Mehrgarh, and the Old World cultures.
Pakistan is a middle power country, ranking among the growth-leading economies, producing commodities such as textiles, sports products, leather goods, chemicals, carpets, and rugs. Its economy was hit by internal political conflicts in the past, a rapid-growing population, and different investments from foreign countries. Pakistan’s remittances also help foreign exchange reserves to boost. However, the increasing deficit, which was caused by the trade gap, could pull down the country’s GDP growth.
The Pakistani rupee is Pakistan’s official currency with its production and issuance controlled by the State Bank of Pakistan for higher denominations, and the Government of Pakistan for 1-rupee banknote. The monetary unit was put into circulation following the dissolution of the British Raj in 1947.
In April 1948, emergency notes were released by the Reserve Bank of India and the Government of India on behalf of the country. Common design elements on these paper bills are a portrait of King George VI and the Reserve Bank of India logo. These notes are also equipped with a solid security thread and a King George VI watermark.
Recent banknotes are in vibrant colors and feature the founder of Pakistan, Muhammed Ali Jinnah wearing the national dress called sherwani. These are in denominations of 5, 10, 20, 50, 100, 500, 1,000, and 5,000 rupees. These notes are protected with a larger OVI flag, SICPAPROTECT varnish, SICPATALK (CBA) infrared ink, and NEO MAG-colored magnetic ink. Their sizes and colors vary with one predominant color for each denomination.