Karachi: The Omani riyal remains one of the strongest currencies against the Pakistani rupee, maintaining high value in both interbank and open market trading.
In the interbank market, OMR is trading at Rs. 719.25 (buying) and Rs. 729.55 (selling). In the open market, it stands at Rs. 719.25 (buying) and Rs. 729.55 (selling).
The strength of the Omani riyal is significant for Pakistan due to the large number of Pakistani workers in Oman. Higher exchange rates mean increased remittance value when converted into rupees, providing support to household incomes and foreign reserves.
However, the strong Gulf currencies also reflect the rupee’s relative weakness, which continues to increase the cost of imports and external debt servicing.
The trend highlights how remittances remain a key pillar of Pakistan’s economy, especially when Gulf currencies maintain high value against PKR.
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