Pakistan Rupee thrashed Saudi Riyal in open market
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The Pakistani Rupee has maintained its winning streak against the Saudi Arabian Riyal in the open market, marking a significant increase of 75 paisas. As a result, the new exchange rate for the Saudi Riyal now stands at Rs74.56, a notable difference compared to the closing rate of Rs73.56 on the previous Wednesday.
In the open market, the conversion rate for 1 SAR to PKR currently stands at PKR 74.56. It's worth noting that the buying and selling rates for Saudi Riyal to PKR differ between interbank and currency exchange markets. In open bank trading, there has been a decrease of Rs0.75 in the exchange rate of Saudi Riyal to Pakistani Rupee.
Meanwhile, NEOM has announced a substantial investment of $100 million through the NEOM Investment Fund (NIF) into Pony.ai, a globally recognized autonomous driving company.
This investment paves the way for a groundbreaking joint venture focused on developing autonomous technology solutions tailored for the region.
As reported by the Saudi Gazette, the collaboration between NEOM and Pony.ai aims to conceptualize, produce, and deliver autonomous driving services, advanced vehicles, and intelligent vehicle infrastructure across NEOM and key markets in the Middle East and North Africa (MENA) region.
Majid Mufti, the CEO of NIF, expressed his enthusiasm for this investment, highlighting its alignment with NEOM's ambitious agenda to realize autonomous transportation solutions in the region. He emphasized that Pony.ai's autonomous driving technology is readily available today and will soon be integrated into NEOM's landscape.
