The Saudi Riyal (SAR) weakened slightly against the Pakistani rupee in the open market, standing at Rs74.56 on Thursday, February 27, 2025.
The selling rate also dipped marginally to Rs75.08.
The Saudi Riyal is the official currency of the Kingdom of Saudi Arabia, abbreviated as SAR or SR, and is subdivided into 100 halalas.
The exchange rate for the Saudi Riyal in Pakistan’s open market is Rs74.56. This means 1,000 Saudi Riyals can be converted to Rs74,560 in Pakistani currency.
Remittances from Saudi Arabia
Saudi Arabia hosts a large number of Pakistani expatriates who contribute significantly to Pakistan’s foreign exchange reserves through remittances.
Overseas Pakistanis in Saudi Arabia sent $728.3 million in remittances during January 2025, reflecting a 5.5% decline on a monthly basis. However, the figure is 24% higher than the $587.4 million remitted in January 2024.
Pakistan and Saudi Arabia continue to strengthen their economic and diplomatic ties. The Kingdom has been a key financial supporter of Pakistan in critical times.
Recently, both countries signed an agreement to extend the deferred payment facility for oil imports worth $1.2 billion for another year, ensuring Pakistan's energy security and economic stability.
