Indian Rupee grows stronger against Omani Rial

T TV Thursday 21/March/2019 17:45 PM
By: Times News Service

Indian expats in Oman will now be able to exchange one Omani Rial for only 178 Rupees, if they are looking to send money to their families back home.
The value of one Omani Rial is now about INR 178.35, after hovering around INR 193.027 as of 11 October, 2018.
According to a global exchange expert, this was because exporters and the banks in India were selling their US Dollar stocks.
“The exporters and banks have started selling their dollar stocks as the rupee is appreciating. In addition, some inflow has come from the Foreign Institutional Investors, and they are some of the biggest drivers of the Indian economy. This means that the stock market in India has appreciated.” - R Madhusoodhanan, CEO of Global Exchange