Pakistani expatriates benefit from stable SAR to PKR exchange rate

KARACHI – Saudi Riyal Exchange Rate Update:

The current exchange rate for the Saudi Arabia Riyal in Pakistan as of May 04 is Rs73.4 for buying and Rs74.1 for selling in the open market, according to forex.pk. This reflects a 15 paisas increase for the Saudi Riyal against the Pakistani rupee. The Saudi Riyal, denoted as SAR or SR, is the official currency of Saudi Arabia and is divided into 100 halalas.

With over 2.7 million Pakistani expatriates residing in Saudi Arabia for employment or business opportunities, the SAR to PKR exchange rate holds significant importance for them. For instance, as of the current rate, 500 Saudi Riyal equals Rs36,700 in Pakistani currency, while 1,000 Saudi Riyal equals Rs73,400.

Individuals carrying Saudi Riyal to Pakistan can conveniently convert their currency at banks or exchange company branches in the country. The consistent rate of one SAR at Rs73.4 in the open market provides clarity for those engaging in currency exchange transactions.

The stability of the Saudi Riyal exchange rate against the Pakistani rupee offers a reliable platform for Pakistani expatriates and individuals involved in cross-border transactions. Understanding the current exchange rate dynamics can facilitate smoother financial transactions and enhance economic interactions between the two nations.