KARACHI: The buying rate for the Omani Rial in exchange for the Pakistan Rupee (PKR) stood at Rs722.75 while the selling rate is Rs732.67 in the open market on Saturday, February 15, 2025.
The Omani Rial denoted as OMR, serves as the official currency of Oman and is subdivided into 1,000 smaller units called baisa.
Conversion of 500 and 1000 OMR to Pakistani Rupees
On February 15, the prevailing exchange rate suggests that 1,000 OMR amounts to Rs722,750 in Pakistani currency.
To convert Omani Rial to the Pakistani Rupee, individuals travelling to Pakistan with OMR can approach banks or exchange company branches for the currency exchange process.
It is also important to highlight that the exchange rate of Rs721.5 per OMR in the open market holds considerable significance for the large Pakistani expatriate population living in Oman, which is estimated to number approximately 250,000 individuals involved in various employment or business ventures.
Read More: Saudi Riyal to Pakistani rupee rate; February 10, 2025
Similarly, the exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) remained unchanged at Rs74.20 in the open market on Saturday, February 15, 2025.
The selling rate of the Riyal also remained constant as it is being sold for Rs74.75 on the sixth day of the ongoing business week.
The Saudi riyal is the official currency of Saudi Arabia. It is abbreviated as SAR, or SR. One Riyal is subdivided into 100 halalas.
The partnership between Pakistan and Saudi Arabia is marked by a long-established and mutually beneficial alliance, underscored by considerable financial assistance from the kingdom.
Last month Saudi Arabia also extended a $3 billion deposit placed with Pakistan for another year to continue bolstering the economy of the South Asian country.
Each year, millions of Pakistani expatriates working in Saudi Arabia send substantial portions of their earnings back to Pakistan.
These remittances are crucial financial resources that allow families to manage daily living costs, support educational pursuits, and invigorate local economies.
This financial interdependence further strengthens the economic connections between the two nations.