Islamabad, Feb 12: The exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) experienced a decline, reaching Rs74.25 in the open market on Wednesday, February 12, 2025. Meanwhile, the selling price remained steady at Rs74.80 on the third business day of the week.
As the official currency of Saudi Arabia, the Saudi Riyal (SAR) is commonly abbreviated as SR and is divided into 100 halalas. The financial ties between Pakistan and Saudi Arabia remain strong, with significant monetary aid extended by the kingdom to support Pakistan’s economy.
In a recent move, Saudi Arabia extended its $3 billion deposit in Pakistan’s central bank for another year, reinforcing economic stability in the country. This assistance is a crucial component of the long-standing partnership between the two nations.
Every year, millions of Pakistani expatriates residing in Saudi Arabia contribute significantly to Pakistan’s economy through remittances. These funds play a vital role in sustaining families, covering educational expenses, and stimulating local markets. This continuous inflow of foreign currency strengthens the financial bond between both nations.
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Additionally, Saudi Arabia remains a key employment hub for Pakistani workers seeking better job prospects. Upon returning home, many exchange their earnings from Riyals to Pakistani Rupees, further fueling currency exchange transactions between the two countries.
Apart from currency updates, gold prices in Saudi Arabia also remain a point of interest. As of Wednesday, February 12, 2025, the price of 24-karat gold stood at 4,075 SAR per tola. According to Forex.pk, 10 grams of 24-karat gold is priced at SAR 3,498, while an ounce of gold is available for SAR 10,879.
The financial interactions between Saudi Arabia and Pakistan continue to shape economic trends, with currency exchange rates and gold prices being key indicators of market fluctuations. Experts suggest that these rates can be influenced by global market trends, economic policies, and geopolitical developments.
With the Pakistani Rupee showing slight volatility against the Saudi Riyal, traders and investors remain attentive to economic shifts. Factors such as trade agreements, foreign reserves, and remittance inflows play a pivotal role in determining the exchange rate dynamics between the two countries.
Keeping an eye on currency trends and gold prices can help businesses and individuals make informed financial decisions. The evolving financial landscape underscores the importance of stable economic policies and bilateral cooperation between Pakistan and Saudi Arabia.
