OMR to PKR Currency Converter - 1 Omani Riyal To Pakistan Rupee

OMR to PKR

The currency exchange rate is a way to determine the worth of your own country's currency and is directly proportional to its economy's strength. The exchange rate between OMR to PKR is surprising, and that is around 0 Rupees. Several factors play their role when it comes to deciding the exchange rates between currencies. Below will be an elaboration on why the currency exchange from OMR to PKR fluctuates this much.

OMR

The currency of Oman is Riyal, and for easy recognition in the international market, the abbreviation OMR is used. The locals use the abbreviation RO or OR. One Omani Riyal is divided into thousand Baiza. The word Baiza is often shortened to Bz. Experts argue that the reason why Omani Riyal is so strong is that it is divided into thousand units (1000 Baiza) while typically countries divide their currency into a hundred units.

The USA's currency still stands strong, with the exchange rate between USD and OMR being around . It means that one USD is equal to Omani Riyal. The Omani Riyal is stronger than the USD, and it holds a firm place in the international economy. It is ranked 6th amongst the 14 countries in the Middle East and North Africa region. The score of its economy is slightly above the regional and world averages. Oman's GDP rank is 67th in the nominal category. While it has been increasing over the past few years, the rise is not appreciated.

While the currency rate exchange may pin down Oman as a potential tourist destination, it still remains expensive due to its underdeveloped public infrastructure. Oman is significantly dependent on its oil for generating economy via trade, and fewer advancements have been made in the technological area. However, the Omani Riyal remains strong in the international currency exchange since its introduction in the market and has held its place.

PKR

The word PKR is an abbreviation to denote the currency of Pakistan in the international market. It is known as Pakistani Rupees, and unlike Oman, the currency of Pakistan is dependent on its agriculture. The economic situation is not stable in Pakistan. That is why its currency exchange remains to fluctuate in the international market. Since the currency’s introduction to the global market, the value of the Rupee has depreciated against the US dollar. The exchange rate between the two stands around . That means one US Dollar is almost equal to 166 Pakistani Rupees.

Pakistani Rupees may not be the strongest, but some currencies are below it, i.e., the Iranian rial. However, this is not regarded as an appreciable ranking.

OMR and PKR

Omani Riyal stands above Pakistani Rupees, and the ranking differences between the two are too significant. That is why Oman's currency is more welcomed in the international market when it comes to competition to Pakistani Rupees. At the same time, the GDP of Oman is increasing. The GDP of Pakistan either has seen the opposite or keeps on fluctuating more recently. It has cost Pakistan its reliability when it comes to international markets.