Islamabad, Apr 4, 2025: The Saudi Riyal (SAR) appreciated against the Pakistani Rupee (PKR) to reach Rs74.78 in the open market on Friday, April 4, 2025. Traders noted the selling price of the Saudi Riyal at Rs75.18.
People know the official currency of Saudi Arabia as the Saudi Riyal, abbreviated as SAR or SR.
Pakistan and Saudi Arabia share a long-standing and mutually beneficial relationship, characterized by significant financial support from the Kingdom of Saudi Arabia.
Recently, Saudi Arabia extended its $3 billion deposit to Pakistan for another year, further strengthening the economy of Pakistan, its Islamic ally.
Every year, millions of Pakistani expatriates working in Saudi Arabia send large portions of their earnings back to Pakistan.
These remittances are vital financial resources that help families cover daily expenses, fund education, and boost local economies.
This financial connection reinforces the economic ties between the two countries.
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Additionally, Saudi Arabia is a major destination for Pakistani laborers seeking employment.
However, Upon returning to Pakistan, many of these workers exchange their Saudi Riyals for Pakistani Rupees (PKR), which reflects the ongoing currency transactions between the two nations.
Meanwhile, Saudi Arabia’s 24-karat gold prices saw an increase and stood at 4,287 Saudi Riyals (SAR) per tola on Friday, March 28, 2025.
According to Forex.pk, the price of 10 grams of 24-karat gold in Saudi Arabia is SAR 3,680. Furthermore, the price for an ounce of gold is 11,445 SAR.
Many Pakistani workers in Saudi Arabia send money back home to assist their families, making a significant contribution to Pakistan’s economy.
In February 2025, Pakistan received remittances worth $744.4 million from Saudi Arabia, making it the leading contributor among all countries.
These remittances play a crucial role in stabilizing Pakistan’s foreign exchange reserves, supporting household income, and improving the country’s balance of payments.
