The exchange rate of the Saudi Riyal (SAR) saw a marginal increase against the Pakistani Rupee (PKR) in the open market, standing at Rs74.71 on Saturday, March 22, 2025.
The selling rate also recorded a slight uptick, reaching Rs75.11, according to the Forex Association of Pakistan.
The Riyal, which serves as the official currency of the Kingdom of Saudi Arabia, is abbreviated as SAR or SR and is subdivided into 100 halalas.
In a significant diplomatic development, Pakistan and Saudi Arabia have reaffirmed their commitment to strengthening bilateral ties, with a focus on defence and security cooperation. This commitment was reiterated during a high-profile meeting in Jeddah between Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince and Prime Minister Mohammed bin Salman.
The Pakistani delegation included Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Chief of Army Staff General Syed Asim Munir, and Punjab Chief Minister Maryam Nawaz.
The discussions underscored the deepening relationship between the two nations, with both sides expressing a desire to expand collaboration across multiple sectors.
Meanwhile, Pakistan received $3.1 billion in remittances from overseas workers in February 2025, reflecting a 3.8% increase from January 2025, according to data from the State Bank of Pakistan (SBP). On a yearly basis, remittances surged by 38.6% compared to the $2.25 billion recorded in February 2024.
Pakistani expatriates in Saudi Arabia contributed the highest remittances, sending $744.4 million in February 2025. This marked a 2.21% increase from January 2025, while on a yearly basis, remittances from Saudi Arabia grew by 37.88%.
