On Tuesday, January 28, the Saudi Riyal (SAR) slightly strengthened in the open market of Pakistan.
The buying rate increased by two paisas to Rs74.33, while the selling rate also saw a slight rise, now standing at Rs74.53.
Saudi Arabia continues to be the largest source of remittances for Pakistan, with overseas Pakistanis in the kingdom sending $770.6 million in December 2024.
This figure represents a 6% increase on a monthly basis and a significant 33% year-on-year rise compared to the $577.6 million sent in December 2023.
SAR to PKR Rate – 28 January 2025
| Date | Latest Exchange Rate | Change |
|---|---|---|
| January 28, 2025 | Rs. 74.33 | +02 paisa |
The Saudi Riyal is the official currency of Saudi Arabia, abbreviated as SAR. One Riyal is subdivided into 100 halalas.
As of January 28, with the Riyal rate at Rs74.33, 1,000 Saudi Riyals is equal to Rs74,330 in Pakistani currency.
The open market rate for one SAR in Pakistan is Rs74.33.
In other news, Saudi Arabia has extended its $3 billion deposit with Pakistan for another year to continue supporting the country's economy. Additionally, Saudi Arabian mining fund Manara Minerals is reportedly looking to purchase a 10-20% stake in the Reko Diq copper and gold project in Pakistan.
