KARACHI: The buying rate for the Omani Rial in Pakistan is rose to Rs 718.35, while the selling rate is noted at Rs 726.85 in the open market on Saturday, December 7, 2024.
The information provided on the currency website forex.pk indicated that the Omani Rial appreciated by 45 paisas in relation to the Pakistani Rupee in the open market.
The Omani Rial, denoted as OMR, serves as the official currency of Oman and is subdivided into 1,000 smaller units called baisa.
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For the conversion of 500 Omani Rial to PKR:
On December 7, the prevailing exchange rate suggests that 500 Rial is equivalent to Rs. 359,175, whereas 1,000 Omani Rial amounts to Rs. 718,350 in Pakistani currency.
Additionally, it is worth noting that the rate of Rs. 718.35 per Omani Rial in the open market is significant for the substantial Pakistani expatriate community residing in Oman, which is estimated to comprise around 250,000 individuals engaged in work or business activities.
The exchange rate between OMR and PKR is vital for financial transactions, particularly in remittance transfers and the conversion of earnings into Pakistani Rupees.
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