Pakistani Rupee gained value against Saudi Riyal in the open market with an increase of Rs1.51. The new rate of the Saudi Riyal is Rs74.25 in comparison to the closing rate on Friday of Rs75.25.
Today 1 SAR to PKR conversion rate is PKR 74.25 in the open market as Saudi Riyal to PKR buying and selling rates are different in interbank and currency exchange or open market rates. Saudi Riyal to Pakistani Rupee has been increased by Rs1.51 in open bank trading.
Saudi Arabia has decided to continue its voluntary cut of one million barrels per day, initially implemented in July 2023 and previously extended, until the end of December 2023.
The official source emphasized that a comprehensive review of this voluntary cut’s efficacy will take place next month, determining whether to extend, deepen, or adjust the production cut.
It was highlighted that this measure is an additional step following the voluntary cut announced by Saudi Arabia in April 2023, persisting until December 2024.
The source clarified that this supplementary voluntary cut aligns with OPEC Plus countries’ collective efforts to ensure the stability and equilibrium of global oil markets.
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