The Saudi Riyal (SAR) registered gains against the Pakistani rupee in the open market, standing at Rs74.45 on Wednesday, March 5, 2025.
The selling rate for 1 SAR also increased, with exchange companies offering it at Rs75, according to forex.pk.
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, and one Riyal is subdivided into 100 halalas.
The Saudi Riyal is being traded at Rs74.45 in the open market, meaning 1,000 SAR can be exchanged for Rs74,450 in Pakistani currency.
Pakistan-Saudi Arabia bilateral relations
Earlier this week, Saudi Ambassador Nawaf bin Saeed Ahmad Al-Malkiy met with Deputy Prime Minister Ishaq Dar in Islamabad.
Both dignitaries reaffirmed their commitment to strengthening ties between Pakistan and Saudi Arabia, particularly in the areas of trade and investment.
A significant number of Pakistani expatriates live in Saudi Arabia, contributing to remittances, which play a crucial role in Pakistan’s forex reserves.
In January 2025, overseas Pakistanis in Saudi Arabia sent $728.3 million in remittances, reflecting a 5.5% decline on a monthly basis.
However, this figure remains 24% higher than the $587.4 million sent in the same month of the previous year.
