The Saudi Riyal (SAR) remained steady against the Pakistani Rupee (PKR) in the open market on Friday, May 2, 2025, with the exchange rate holding firm at Rs74.90. The selling rate was also unchanged at Rs75.44, reflecting a consistent trend in the currency market.
The stability in the SAR to PKR exchange rate comes amid ongoing strong diplomatic and economic ties between Pakistan and Saudi Arabia. The Saudi Riyal, the official currency of the Kingdom of Saudi Arabia, is widely traded in Pakistan due to the large Pakistani expatriate population residing in the Gulf nation.
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As of now, 1 Saudi Riyal equals Rs74.90, which means 1,000 Saudi Riyals convert to Rs74,900. With over 2.5 million Pakistanis living and working in Saudi Arabia, the remittances sent home play a crucial role in supporting Pakistan’s economy. These workers contribute significantly not only to Saudi Arabia’s labor market but also to Pakistan’s foreign exchange reserves.
In February 2025 alone, remittances from Saudi Arabia to Pakistan reached $744.4 million. This was a 2.21% rise from January 2025 and a substantial 37.88% increase compared to February 2024. These remittance inflows are vital for maintaining economic stability and boosting Pakistan’s foreign reserves.
As of March 28, 2025, Pakistan’s total liquid foreign reserves were recorded at $15.58 billion, with $10.68 billion held by the State Bank of Pakistan (SBP). These reserves act as a buffer against economic challenges and help stabilize the exchange rate, ensuring a resilient financial position for the country.
The unchanged exchange rate of the Saudi Riyal against the Pakistani Rupee signals a balanced demand-supply dynamic, backed by ongoing remittance inflows and a steady flow of financial assistance and investment from Saudi Arabia.
