On Wednesday, January 22, the Saudi Riyal (SAR) strengthened by four paisas in the open market of Pakistan. The buying rate stands at Rs74.30, and the selling rate is Rs74.50.
Saudi Arabia continues to play a pivotal role in Pakistan’s foreign remittances. In December 2024, overseas Pakistanis in Saudi Arabia sent the highest remittance amount of $770.6 million, marking a 6% increase from the previous month and a significant 33% rise compared to $577.6 million sent in the same month last year.
| Date | Latest Exchange Rate | Change |
|---|---|---|
| January 22, 2025 | Rs. 74.30 | +4 paisas |
The Saudi Riyal is the official currency of Saudi Arabia, abbreviated as SAR. One Riyal is subdivided into 100 halalas.
At Rs74.30, 1,000 Saudi Riyals equals Rs74,300 in Pakistani currency.
The rate of one SAR in the open market of Pakistan stands at Rs74.30.
In addition to remittances, Saudi Arabia also extended a $3 billion deposit with Pakistan for another year to help stabilize the country’s economy. Moreover, Saudi Arabia’s mining fund, Manara Minerals, is reportedly set to purchase a 10-20% stake in the Reko Diq copper and gold project in Pakistan
