Thursday, July 4, 2024 07:31 PM
Pakistani Expatriates Monitor Saudi Riyal Exchange Rate
- Current SAR to PKR exchange rate: Rs73.5 buying, Rs74.25 selling
- Over 2.7 million Pakistani expats in Saudi Arabia rely on this rate
- Stability of SAR against PKR fosters economic ties between countries
Image Credits: pakobserverThe exchange rate of Saudi Riyal to Pakistani Rupee is crucial for over 2.7 million Pakistani expatriates in Saudi Arabia. With the current rate at Rs73.5 for buying and Rs74.25 for selling, this stable exchange facilitates financial transactions and strengthens economic relations between the two countries.
The exchange rate for the Saudi Arabia Riyal in Pakistan is closely monitored by many due to its significance for the large number of Pakistani expatriates living in Saudi Arabia. The current exchange rate stands at Rs73.5 for buying and Rs74.25 for selling in the open market. 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, the SAR to PKR exchange rate plays a crucial role in their financial transactions. As of June 05, one Saudi Riyal is equivalent to Rs73.5 in the open market. This means that 500 Saudi Riyal is equal to Rs36,750 in Pakistani currency, and 1,000 Saudi Riyal is worth Rs73,500. Individuals holding Saudi Riyal can easily convert it to Pakistani Rupees by visiting banks or exchange companies in Pakistan.
The stability of the Saudi Riyal against the Pakistani Rupee in the open market provides a convenient exchange opportunity for those engaged in trade or travel between the two countries. This consistent exchange rate facilitates smoother financial transactions and fosters economic ties between Saudi Arabia and Pakistan.
