KARACHI – Saudi Riyal registered slight gains of two paisas against Pakistani rupee in open market as it stood at Rs74.58 on Friday, February 28, 2025.
The selling rate of the Riyal also strengthened as it is being sold by various exchange companies for Rs75.10 on the fifth day of new business week.
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 Latest Rate Today
The Saudi Riyal exchange rate stands at Rs74.58 in open market of Pakistan. So, the 1,000 Saudi Riyal can be exchanged for Rs74,580 in Pakistani currency.
Most of the Pakistani expatriates reside in Saudi Arabia where they are engaged in employments and businesses. They sent significant remittances to the home country every month, which play a key role in forex reserves of the country.
Overseas Pakistanis residing in Saudi Arabia sent $728.3 million during January 2025 in wake of remittances, down by 5.5% on monthly basis.
However, the remittances are 24% higher than the $587.4 million sent by the Pakistanis expatriates from Saudi Arabia in the same month of last year.
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.
