The Saudi Riyal (SAR) went up by three paisas against the Pakistani Rupee (PKR) in the open market on Saturday, with the buying rate going up to Rs74 and the selling rate remaining at Rs74.39.
This slight increase continues the Saudi Riyal’s consistent performance in the open market, say currency dealers.
Pakistan receives the largest remittances from Saudi Arabia, where most Pakistani expatriates send back Saudi Riyals while going back to their homeland.
Latest Exchange Rates
SAR to PKR Open Market Rate
Buying Rs74 + 3 paisas
Selling Rs74.39 + 3 paisas
Date Latest Exchange Rate Change
December 7, 2024 Rs. 74 +3 paisa
December 6, 2024 Rs. 73.97
Saudi Riyal SAR is the official currency of Saudi Arabia and is subdivided into 100 halalas.
Key conversion at the prevailing rate of Rs74 are as follows:
500 Saudi Riyals = Rs37,000
1,000 Saudi Riyals = Rs74,000
People holding Saudi Riyals can exchange their currency at banks or branches of an exchange company in Pakistan.
The State Bank of Pakistan (SBP) has stressed the need to encourage the use of formal banking channels for remittances to help the country’s economy.
