The Saudi Riyal (SAR) continued its upward trend against the Pakistani rupee in the open market, rising by four paisas to reach Rs74.55 on Saturday, February 22, 2025.
The selling rate also moved up, with various exchange companies offering it for Rs75.07, according to a portal monitoring exchange rates.
The Saudi Riyal is the official currency of the Kingdom of Saudi Arabia and is abbreviated as SAR or SR. It is further subdivided into 100 halalas.
The current exchange rate for the Saudi Riyal in Pakistan’s open market stands at Rs74.55. This means that 1,000 Saudi Riyals can be exchanged for Rs74,550 in Pakistani currency.
Remittances from Saudi Arabia
Overseas Pakistanis residing in Saudi Arabia sent $728.3 million in remittances during January 2025, reflecting a 5.5% decline on a monthly basis. However, the inflows were 24% higher than the $587.4 million remitted in the same month of 2024.
Saudi Arabia and Pakistan share strong economic and diplomatic ties, with the Kingdom providing financial support to Pakistan in crucial times.
Recently, both countries signed an agreement extending the deferred payment facility for oil imports worth $1.2 billion for another year, ensuring Pakistan’s energy security and economic stability.
