The Saudi Riyal (SAR) maintained its exchange rate against the Pakistani rupee in the open market, standing at Rs74.57 on Monday, March 3, 2025.
The selling rate for 1 SAR also remained steady, with exchange companies offering it at Rs75.09 on the first day of the new business week.
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, and one Riyal is subdivided into 100 halalas.
The exchange rate for 1 Saudi Riyal in the open market stands at Rs74.57, meaning 1,000 SAR can be exchanged for Rs74,570 in Pakistani currency.
Pakistani expatriates in Saudi Arabia
A large number of Pakistani expatriates work in Saudi Arabia, contributing significantly to remittances, which play a crucial role in Pakistan’s foreign exchange reserves.
In January 2025, overseas Pakistanis in Saudi Arabia sent $728.3 million in remittances, showing a 5.5% decline on a monthly basis.
However, remittances were still 24% higher compared to $587.4 million sent in the same month of the previous year.
Pakistan and Saudi Arabia share brotherly relations and collaborate in various domains, including economic and financial support.
Recently, the two nations signed an agreement for deferred payment on oil imports worth $1.2 billion for another year, further strengthening their economic partnership.
