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Saudi Arabia likely to invest Rs5b in Pakistan

07:02 PM | 14 Apr, 2024
Saudi Arabia likely to invest Rs5b in Pakistan

ISLAMABAD – Saudi Foreign Minister Faisal bin Farhan Al Saud will lead a high-level delegation of Saudi investors and economic experts on a visit to Pakistan on April 17.

The Saudi delegation will hold meetings in Pakistan to discuss investments worth $5 billion in various sectors, including mining and tourism, such as the development of Reko Diq, Diamer Basha Dam, and two tourism zones in Chiniot, as well as purchasing shares worth $1 billion in Rekodik, expanding small oil refineries for oil purification, and discussing agreements on two mining projects in Khyber Pakhtunkhwa.

Following the completion of the initial work on projects and investments, negotiations on formal agreements are expected to take place within the first or second week of May. 

The visit of Crown Prince Mohammed bin Salman to Pakistan is also expected within two weeks, during which formal agreements on investment projects will be finalised, marking the beginning of Saudi investments in Pakistan, which will lead to significant economic success for the country.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 22 May 2024

 Pakistani currency rates against US Dollar and other currencies on May 22, 2024 (Wednesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.15 for buying and 280.05 for selling.

Euro moved down to 297 for buying and 300 for selling while British Pound rate is 349 for buying, and 352.5 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 22 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.15 277.15
Euro EUR 297 300
UK Pound Sterling GBP 349 352.5
U.A.E Dirham AED 75.2 75.95
Saudi Riyal SAR 73.45 74.2
Australian Dollar AUD 183 184.8
Bahrain Dinar BHD 740.34 748.34
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.91
Danish Krone DKK 40.52 40.92
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 903.3 912.3
Malaysian Ringgit MYR 59.34 59.94
New Zealand Dollar NZD 170.11 172.11
Norwegians Krone NOK 25.92 26.22
Omani Riyal OMR 723.13 731.13
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.98 26.28
Swiss Franc CHF 305.97 308.47
Thai Bhat THB 7.67 7.82

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