Karachi: The Saudi Riyal is continuing to show stable movement against the Pakistani Rupee as regional security concerns dominate financial markets across the Middle East.
In Pakistan’s open market, the Saudi Riyal is being bought at Rs. 74.35 and sold at Rs. 75.35. In the interbank market, the currency is trading at Rs. 74.22 for buying and Rs. 74.35 for selling.
Economic experts are noting that Saudi Arabia’s role in global oil markets is becoming increasingly important as tensions involving Iran, Israel and the United States continue affecting investor confidence and energy prices worldwide.
Pakistan’s economy is particularly vulnerable because of its dependence on imported fuel and remittances from Gulf countries
