On Saturday, June 21, 2025, the Saudi Riyal (SAR) maintained a stable exchange rate against the Pakistani Rupee (PKR) in the open market. The buying rate remained at Rs75.59, while the selling rate stood at Rs76.14, reflecting no change from the previous day.
This rate stability comes during peak Hajj season, driven by sustained demand due to remittance inflows from Pakistani workers residing in Saudi Arabia. Based on the current rate, 500 Saudi Riyals are equivalent to Rs37,785 in the open market.
Currency exchange plays a vital role in facilitating international trade, travel, and remittances. Exchange rates fluctuate based on factors such as supply and demand, inflation, interest rates, geopolitical developments, and overall economic performance. At times, central banks may intervene to manage currency volatility.
According to the State Bank of Pakistan (SBP), overseas remittances have shown robust growth, totaling nearly $35 billion from July 2024 to May 2025, marking a 28.8% increase compared to the same period in the prior fiscal year. These inflows are essential for strengthening Pakistan’s foreign reserves and stabilizing the local currency.
