By Admin 
The exchange rate of Indian rupee and Saudi riyal continues to fluctuate. According to the latest data, India’s Rs 1 lakh has become equal to 4,252.20 riyal in Saudi Arabia. Currently, 1 Indian rupee is equal to about 0.042 Saudi Rial. This means that if an Indian citizen travels to Saudi Arabia or sends money there, he will get 4,252 riyals instead of Rs 1 lakh.
If you look at the graph of the last one month, the price of the rupee has been under constant pressure compared to Rial. On August 29, this rate was around 0.043, while by 7 September it fell to 0.042. Although there was a slight improvement in the middle, the rupee’s weakness was clearly visible.
Maintaining international strength important for India
The pressure on the rupee has increased due to the strengthening of the dollar and high crude oil prices in the international market. Since India imports a large crude oil from Saudi Arabia, the change in the currency of both countries directly affects business and common people. With India having a 4,252 riyal in Saudi Arabia, it is clear that it is important to maintain the international strength of the rupee, both India’s economy and the overseas Indians.
How are relationships between India and Saudi Arabia?
The relations between India and Saudi Arabia are very important historical and strategically. Saudi is the second largest oil supplier in India in the field of security, from which India fulfills about 18% of its total oil needs. The annual trade between the two countries is more than $ 40 billion. Along with this, millions of Indian migrants are working in Saudi Arabia, who not only contribute to the Saudi economy but are also a big source of foreign currency for India. In recent years, both countries have also increased cooperation in defense, investment and technical fields. This is the reason that Saudi Arabia sees India as a large market and strategic partner, while Saudi is an important center of energy and diplomatic balance for India.
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