Saudi Arabia continues to be largest source of remittances for Pakistan
The exchange rate of the Saudi Riyal (SAR) remained unchanged against the Pakistani Rupee (PKR) in the open market on Saturday, June 21, 2025, with the buying rate standing at Rs75.59 and the selling rate holding steady at Rs76.14.
The stability in SAR comes amid continued demand linked to remittance inflows and seasonal travel during the Hajj period, as a large number of Pakistanis based in the Kingdom contribute to foreign exchange reserves.
SAR to PKR Rate Today
- 1 SAR = Rs75.59 (Buying)
- 1 SAR = Rs76.14 (Selling)
With the prevailing buying rate, 500 Saudi Riyals convert to Rs37,785 in the open market.
Currency exchange
Currency exchange plays a critical role in enabling global trade, travel, and investment by allowing businesses and individuals to convert one currency into another. Exchange rates are influenced by a complex mix of factors, including supply and demand, interest rates, inflation, political conditions, and overall economic performance.
In some cases, central banks may intervene in foreign exchange markets to stabilize or influence currency values. For businesses, understanding exchange rates helps manage international operations, while travelers benefit from better budgeting for overseas expenses.
Remittances from Saudi Arabia Surge in FY2024-25
According to the State Bank of Pakistan (SBP), workers’ remittances from overseas Pakistanis reached nearly $35 billion during the July 2024 to May 2025 period — a 28.8% increase compared to the same period in the previous fiscal year.
The month of May 2025 alone saw a record inflow of $3.69 billion, the highest monthly figure of the fiscal year. Among source countries, Saudi Arabia topped the chart with $913.3 million, followed by the United Arab Emirates (UAE) with $754.2 million.