Pakistani rupee weakens against Omani rial

The value of Pakistani rupee (PKR) has dropped drastically against the Omani rial and has reached an all time low of PKR345. Last month, the value of a single Omani rial was recorded to trade at PKR336.
However, a slump in the value of the rupee was witnessed after the Government of Pakistan decided to seek monetary assistance from the International Monetary Fund.
“The government of Pakistan is allowing the rupee to devalue slightly to help exports and that is also being reflected positively on the whole remittance volume which Pakistan has received globally. In July – October, 2018 there has been an increase of 15 per cent remittances compared to the same period last year,” - Syed Faraz Ahmed, General Manager at Oman United Exchange.
He added that for the same period there has been a three per cent decline in the remittance volume being sent from Oman to Pakistan.