MUSCAT: One Omani Rial is now worth even more when exchanged for Indian Rupees, after the currency crossed the INR 200 mark on Monday, May 9, 2022.
According to currency converter XE.com, one Omani Rial can be exchanged for INR 201.275. Rupee had shown significant weakness last week and the latest drop take it into new territory.
According to report by Bloomberg, foreign funds pulled out $17.7 billion from Indian equities this year, the highest on record, as the prospect of aggressive tightening by global central banks roiled markets. The currency has also been buffeted by other headwinds including a widening current account deficit, and a surge in global crude prices.
Read More
- Qatar FM arrives in Oman for official visit
- His Majesty issues Royal Decree amending penal code, repeals labour law provision
- CPA seizes over 400 unsafe children’s products in Muscat
- Oman, Iran form working group on future Strait of Hormuz navigation
- Tourism and hotel establishments in Oman asked to regularise status under new regulations
Money exchange houses are also offering the best rate for customers to remit money to India. “It is financially prudent to remit money as you will get comparatively more Indian Rupees for Omani Rial today,” said an official at a money exchange house in Muscat.
