On Tuesday, February 18, 2025, the Saudi Riyal (SAR) exchange rate saw no change against the Pakistani rupee in the open market.
The buying rate remained steady at Rs74.25, while the selling rate continued at Rs74.80, according to a currency monitoring portal.
The Saudi Riyal is the official currency of the Kingdom of Saudi Arabia and is abbreviated as SAR or SR. One Riyal is further divided into 100 halalas.
SAR to PKR rate today
The exchange rate for the Saudi Riyal stands at Rs74.25 in the open market of Pakistan, meaning that 1,000 Saudi Riyals can be exchanged for Rs74,250 in Pakistani currency.
Remittances from Saudi Arabia
Overseas Pakistanis residing in Saudi Arabia sent $728.3 million in remittances during January 2025. While this marks a 5.5% decline from the previous month, it is still 24% higher than the $587.4 million remitted in January 2024.
Pakistan-Saudi Arabia economic cooperation
Pakistan and Saudi Arabia share strong brotherly ties, collaborating across various sectors. The Kingdom has consistently provided financial support to Pakistan during economic hardships.
Recently, the two countries signed an agreement extending the deferred payment facility for oil imports worth $1.2 billion for another year. Prime Minister Shehbaz Sharif and the Chief Executive Officer of the Saudi Fund for Development (SFD), Sultan Abdulrahman Al-Marshad, attended the signing ceremony.
