Muscat: For expatriates from Asia living in the Sultanate of Oman, the exchange rate from an Omani riyal to their national currencies is at is all-time high.
On Tuesday, one Omani riyal fetched around 223.8 Indian rupees, 718 Pakistani rupees, 313 Bangladeshi takas, 150.6 Philippine pesos, 760 Sri Lankan rupees and 355 Nepali rupees, according to some bank and money exchanges in the capital.
The Indian rupee weekend to an all-time low past rupees 86 per dollar on Monday after better-than-expected US jobs data led to an expectation that the Federal Reserve will go for lesser interest rate cuts this year.
But, the Indian rupee rebounded from its lowest-ever level and appreciated 21 paise to 86.49 against the US dollar on Tuesday on the back of retreating American currency and easing crude oil prices.
Higher crude oil prices and continued outflows from foreign investors also weighed on the domestic currency. Reserve Bank of India (RBI) has been allowing the rupee to depreciate for the past few days, according to experts.
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