Islamabad, May 22, 2025: The Saudi Riyal to PKR rate surged for the fourth straight day on Thursday, highlighting renewed strength in the Saudi currency against the Pakistani Rupee in the open market.
As remittances from Saudi Arabia continue to bolster Pakistan’s forex reserves, this trend is gaining close attention from economists and overseas investors alike.
Saudi Riyal to PKR – Open Market Rates:
- Buying Rate: 1 SAR = Rs75.17
- Selling Rate: 1 SAR = Rs75.72
This slight yet consistent appreciation in the Saudi Riyal (SAR)—up by 3 paisas—demonstrates investor confidence in the Gulf currency amid ongoing regional economic developments.
Currency Insight:
The Saudi Riyal, officially recognized as SAR, is subdivided into 100 halalas and remains a key currency in global remittance corridors, especially for countries like Pakistan. With many Pakistanis employed in Saudi Arabia, daily fluctuations in SAR to PKR directly affect remittance values and the local forex market.
Strategic Ties Strengthen Economic Outlook:
Beyond currency dynamics, the enduring Pakistan-Saudi relationship remains a strong pillar of bilateral stability. A recent high-level meeting in Jeddah between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman reinforced mutual cooperation in defense, trade, and economic development.
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Key figures such as Deputy PM Ishaq Dar, COAS Gen. Asim Munir, and Punjab CM Maryam Nawaz were also present signaling a united front in diplomatic engagement.
Record-Breaking Remittances from Saudi Arabia:
In February 2025 alone, Pakistan received $744.4 million in remittances from Saudi Arabia, making it the top source of foreign inflows. This marked a 2.21% increase from January and a massive 37.88% year-on-year growth, underscoring the vital role of overseas workers in stabilizing Pakistan’s economy.
Comparison with Other Gulf Currencies:
While SAR has shown upward momentum, similar trends have been observed with the UAE Dirham and Kuwaiti Dinar, indicating a wider pattern of Gulf currency strength. This uptick benefits families in Pakistan relying on foreign transfers, giving them more value in local currency terms.
