On Wednesday, February 19, 2025, the Saudi Riyal (SAR) strengthened against the Pakistani rupee in the open market. The buying rate rose to Rs74.48, while the selling rate increased to Rs75, according to a currency monitoring portal.
The Saudi Riyal is the official currency of the Kingdom of Saudi Arabia and is abbreviated as SAR or SR. One Riyal is further divided into 100 halalas.
SAR to PKR rate today - 19 February 2025
The exchange rate for the Saudi Riyal stands at Rs74.48 in the open market of Pakistan, meaning that 1,000 Saudi Riyals can be exchanged for Rs74,480 in Pakistani currency.Overseas Pakistanis residing in Saudi Arabia sent $728.3 million in remittances during January 2025. While this marks a 5.5% decline from the previous month, it is still 24% higher than the $587.4 million remitted in January 2024.
Pakistan and Saudi Arabia continue to maintain strong economic ties, with the Kingdom providing consistent financial support.
Recently, both nations signed an agreement extending the deferred payment facility for oil imports worth $1.2 billion for another year. Prime Minister Shehbaz Sharif and the Chief Executive Officer of the Saudi Fund for Development (SFD), Sultan Abdulrahman Al-Marshad, attended the signing ceremony.
This agreement aims to strengthen Pakistan’s economic resilience by ensuring a steady supply of petroleum products while easing immediate fiscal pressures.
The National Savings (Qaumi Bachat) has introduced revised profit rates for Defence Savings Certificates, effective from February 2025. The updated rates are aimed at providing better returns for investors and encouraging savings among the public.
