Islamabad, Mar 18, 2025: The Saudi Riyal (SAR) experienced a minor dip against the Pakistani Rupee (PKR) in the open market, settling at Rs74.70 on Tuesday, March 18, 2025.
Exchange companies adjusted their selling rates, offering 1 SAR for Rs75.10, as reported by the Forex Association of Pakistan.
Saudi Riyal and Its Importance
The Saudi Riyal (SAR), the official currency of Saudi Arabia, is subdivided into 100 halalas.
It plays a significant role in Pakistan’s foreign exchange reserves, as a large number of Pakistani expatriates live and work in Saudi Arabia, sending remittances back home.
Strong Pakistan-Saudi Arabia Relations
Pakistan and Saudi Arabia enjoy deep-rooted diplomatic, economic, and cultural ties. Saudi Arabia has consistently extended financial and economic support to Pakistan, strengthening bilateral relations.
According to the State Bank of Pakistan (SBP), Pakistan received $3.1 billion in remittances from overseas workers in February 2025, reflecting a 3.8% rise from January 2025.
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On a year-over-year basis, remittances saw a significant 38.6% jump compared to $2.25 billion in February 2024.
Fluctuations in SAR-PKR exchange rates directly impact remittance flows and trade relations between the two nations.
A stable exchange rate benefits both Pakistani workers in Saudi Arabia and businesses engaged in bilateral trade.
Stay updated with the latest currency trends to make informed financial decisions!
