Islamabad, Feb 20: The Saudi Riyal (SAR) appreciated against the Pakistani Rupee (PKR) in the open market, reflecting currency fluctuations influenced by economic trends.
As per the latest exchange rates, the buying price of the Saudi Riyal rose to Rs74.51, while the selling price climbed to Rs75.03. These figures were reported by a reliable currency monitoring platform, highlighting a strengthening SAR against PKR.
Current SAR to PKR Exchange Rate
In Pakistan’s open market, the exchange rate for one Saudi Riyal stands at Rs74.51. This means that exchanging 1,000 Saudi Riyals would yield Rs74,510. The rate is subject to market demand and international financial conditions.
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Remittances from Saudi Arabia to Pakistan
Pakistani expatriates working in Saudi Arabia continue to play a vital role in supporting Pakistan’s economy through remittances. In January 2025, overseas Pakistanis sent $728.3 million back home. Although this reflects a 5.5% decline from the previous month, it represents a significant 24% increase compared to the $587.4 million remitted in January 2024. The steady inflow of remittances remains crucial for stabilizing Pakistan’s foreign reserves.
Pakistan-Saudi Arabia Economic Cooperation
Pakistan and Saudi Arabia share robust economic ties, with the Kingdom consistently providing financial support to Pakistan. Recently, both nations extended an agreement allowing deferred oil payments worth $1.2 billion for another year. The signing ceremony, attended by Prime Minister Shehbaz Sharif and Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), reinforced the commitment to economic cooperation.
This agreement is expected to bolster Pakistan’s financial stability by ensuring a steady supply of petroleum products while easing fiscal burdens. With Saudi Arabia being one of Pakistan’s key trade partners, such initiatives continue to strengthen bilateral economic relations.
