The Pakistani Rupee has maintained its winning streak against the SaudiArabian Riyal in the open market, marking a significant increase of 75paisas. As a result, the new exchange rate for the Saudi Riyal now standsat Rs74.56, a notable difference compared to the closing rate of Rs73.56 onthe previous Wednesday.
In the open market, the conversion rate for 1 SAR to PKR currently standsat PKR 74.56. It’s worth noting that the buying and selling rates for SaudiRiyal to PKR differ between interbank and currency exchange markets. Inopen bank trading, there has been a decrease of Rs0.75 in the exchange rateof Saudi Riyal to Pakistani Rupee.
Meanwhile, NEOM has announced a substantial investment of $100 millionthrough the NEOM Investment Fund (NIF) into Pony.ai, a globally recognizedautonomous driving company.
This investment paves the way for a groundbreaking joint venture focused ondeveloping autonomous technology solutions tailored for the region.
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As reported by the Saudi Gazette, the collaboration between NEOM andPony.ai aims to conceptualize, produce, and deliver autonomous drivingservices, advanced vehicles, and intelligent vehicle infrastructure acrossNEOM 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 realizeautonomous transportation solutions in the region. He emphasized thatPony.ai’s autonomous driving technology is readily available today and willsoon be integrated into NEOM’s landscape.