KARACHI – Saudi Riyal exchange rate further strengthened against Pakistani rupee in open market as it stood at Rs74.51 on Thursday, February 20, 2025.
The selling rate of the Riyal also increased as it is being sold by various exchange companies for Rs75.03 on the fourth day of new business week, according to portal that monitors exchange rates.
Riyal is the official currency of the Kingdom of Saudi Arabia and it is abbreviated as SAR, or SR. One Riyal is subdivided into 100 halalas.
SAR to PKR Rate Today
The Saudi Riyal exchange rate stands at Rs74.51 in open market of Pakistan. So, the 1,000 Saudi Riyal can be exchanged for Rs74,510 in Pakistani currency.
Overseas Pakistanis residing in Saudi Arabia remitted $728.3 million during January 2025, witnessing a decrease of 5.5% on monthly basis. However, the amount if 24% higher than the $587.4 million sent by the Pakistanis expatriates from Saudi Arabia in the same month of 2024.
Pakistan and Saudi Arabia are two brotherly nations with cooperation in various domains. The Kingdom has been providing financial support to Pakistan in challenging times.
Recently, Pakistan and Saudi Arabia signed an agreement for deferred payment for oil import worth $1.2 billion for another one year.
Prime Minister Shehbaz Sharif and Chief Executive Officer of Saudi Fund for Development (SFD) Sultan Abdulrahman Al-Marshad witnessed the signing ceremony.
This agreement will strengthen Pakistan’s economic resilience by securing a stable supply of petroleum products while reducing immediate fiscal burdens.
