The Saudi Riyal SAR has strengthened slightly against the Pakistani Rupee PKR in the open market. On January 29 2025 the buying rate of one Saudi Riyal increased by three paisas reaching Rs74.36 while the selling rate also saw an upward movement standing at Rs74.56. This small rise reflects ongoing economic shifts and the impact of foreign remittances from overseas Pakistanis.
Saudi Arabia remains the largest source of remittances for Pakistan playing a crucial role in supporting the country’s foreign exchange reserves. In December 2024 alone Pakistani expatriates living in the kingdom sent a record 770.6 million dollars back home. This marked a six percent increase compared to November 2024 and an impressive thirty three percent rise compared to December 2023 when remittances were 577.6 million dollars. The steady growth in remittances highlights the strong financial ties between the two countries and the significant contribution of overseas Pakistanis to Pakistan’s economy.
At the current exchange rate one thousand Saudi Riyals amount to Rs74360 in Pakistani currency making it an important consideration for those involved in trade travel or sending money back to Pakistan. Additionally in a major financial boost for Pakistan Saudi Arabia has extended its three billion dollar deposit for another year. This move is aimed at helping Pakistan stabilize its economy and strengthen its foreign exchange reserves.
The exchange rate of the Saudi Riyal against the Pakistani Rupee continues to fluctuate based on market conditions remittance flows and economic policies. With Saudi Arabia maintaining its position as Pakistan’s top remittance source any changes in the Riyal’s value have a direct impact on many Pakistani households and businesses.