KARACHI: The buying rate of the Omani Rial (OMR) in Pakistan has decreased to Rs. 715.25, while the selling rate remained steady at Rs. 723.75 on Saturday, November 23.
According to forex.pk, this marks a relatively stable exchange rate, with no significant changes in the open market value of the Omani Rial against the Pakistani Rupee.
The Omani Rial, abbreviated as OMR, is the official currency of Oman. It is divided into 1,000 smaller units known as baisa.
Despite fluctuations in the value of other foreign currencies, the position of Omani Rial to PKR has remaind unchanged on November 23.
Omani Rial to PKR:
The current exchange rate implies that 500 Omani Rial equals Rs. 357,625, while 1,000 Omani Rial translates to Rs. 715,250 in Pakistani currency.
The rate of Rs. 715.25 per Omani Rial in the open market is crucial for the large Pakistani expatriate community living in Oman. It is estimated that around 250,000 Pakistanis reside in Oman for work or business purposes. The OMR to PKR exchange rate significantly impacts their financial transactions, particularly when transferring remittances or converting their earnings back into Pakistani Rupees.
For individuals looking to convert their Omani Rials into Pakistani Rupees, the process is simple. One can visit local banks or authorized exchange companies, where the conversion can be carried out at the prevailing open market rates. This stability in the exchange rate offers a sense of consistency for both travelers and expatriates engaged in cross-border financial activities.
Read More: Omani Rial to Pakistani Rupee rate on 22 November 2024
On November 22, the purchasing rate for the Omani Rial in Pakistan decreased to Rs715.25, while the selling rate was recorded at Rs723.75 in the open market, on Friday, November 22, as reported by forex.pk.
Data from the currency website indicated that the Omani Rial depreciated by 41 paisas against the Pakistani rupee in the open market.
Current Value of 500 Omani Rial in Pakistani Rupees
As of November 22, the exchange rate for the Omani Rial is Rs715.25 in the open market. Consequently, 500 Omani Rials equate to Rs357,625 in Pakistani currency.
As of November 22, the Omani Rial was trading at Rs715.25 in the open market. Therefore, 1,000 Omani Rials was noted to be Rs715,250 in Pakistani currency.
