KARACHI – Saudi Riyal exchange rate slightly moved up against Pakistani rupee in open market as it stood at Rs74.71 on Saturday, March 22, 2025.
The selling rate of the Riyal also recorded slight changes as it is being sold for Rs75.11 on the fifth day of new business week, according to Forex Association of Pakistan.
Riyal is the official currency of the Kingdom of Saudi Arabia and it is abbreviated as SAR, or SR. One Riyal is subdivided into 100 halalas.
Recently, Pakistan and Saudi Arabia reaffirmed their commitment to elevate their bilateral partnership and strengthen defence and security cooperation.
The commitment was reiterated during a meeting between Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince and Prime Minister Mohammed bin Salman in Jeddah.
The prime minister was accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Chief of the Army Staff General Syed Asim Munir, and Punjab Chief Minister Maryam Nawaz.
Meanwhile, Pakistan received $3.1 billion in wake of overseas Pakistani workers’ remittances in February 2025, registering an increase of 3.8% as compared to previous month of January 2025, according to data released by the State Bank of Pakistan (SBP).
Remittances increased by 38.6% on year-on-year basis, compared to $2.25 billion recorded in the same month last year.
Overseas Pakistanis living in Saudi Arabia remitted the largest amount in February 2025 as they sent $744.4 million during this period, up by 2.21% on monthly basis and 37.88% on yearly basis.
