The Pakistani Rupee has been on a winning streak against the Saudi ArabianRiyal in the market, with a notable increase of 51 paisas. This surge hasled to a new exchange rate for the Saudi Riyal, which now stands atRs73.75, in contrast to the closing rate observed on Monday, which wasRs74.26.
It’s important to note that the conversion rate for 1 SAR to PKR iscurrently at PKR 73.75 in the open market. However, it’s worth mentioningthat Saudi Riyal to PKR buying and selling rates may differ in theinterbank, currency exchange, or open market rates. Notably, the SaudiRiyal to Pakistani Rupee rate has decreased by Rs0.51 in open bank trading.
In a separate development, Saudi Crown Prince Mohammed bin Salman made asignificant announcement during the opening ceremony of “The New GlobalSport Conference” in Riyadh. He declared the launch of the Esports WorldCup, an annual mega-event scheduled to make its debut in the summer of2024.
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This grand tournament has a strategic aim, which is to position SaudiArabia as the foremost global hub for gaming and esports. This initiativerepresents a substantial commitment by the Kingdom to diversify its economyand boost the tourism and entertainment sectors.