In a positive development for Pakistani expats living in Saudi Arabia and UAE, the value of the Pakistani rupee has strengthened against several major currencies, including the Saudi Riyal and the UAE Dirham.
According to the latest market trends, the Saudi Riyal has depreciated by 7 paisa, now trading at PKR 74.20. Similarly, the UAE Dirham has also weakened, falling by 4 paisa to PKR 75.82.
This decline in the value of Gulf currencies is likely to bring some relief to Pakistani expatriates sending remittances home, as they will now get more rupees for their earnings. With over 2.7 million Pakistanis working in Saudi Arabia alone, the exchange rate fluctuations significantly impact the country’s economy.
While the Japanese Yen also experienced a slight drop, the British Pound witnessed a more substantial decline, closing at PKR 354.12.
It’s important to note that currency exchange rates can fluctuate rapidly, and these values represent the current market situation.
