SAR to PKR Rate Steady at Rs74.57 on March 3, 2025

The Saudi Riyal to Pakistani Rupee exchange rate remained steady at Rs74.57 on March 3, 2025, with a buying rate of Rs74.52 and a selling rate of Rs74.65 in the open market, as millions of Pakistani expatriates in Saudi Arabia continue to send crucial remittances back home.

The economic partnership between Pakistan and Saudi Arabia has been strengthened by the country's financial assistance to Pakistan, with Saudi Arabia being a key destination for Pakistani laborers. The exchange of currency between the two countries is active, with the Saudi Riyal subdivided into 100 halalas. On March 3, 2025, the 24-karat gold rates in Saudi Arabia were recorded at 4,015 SAR per tola, 10 grams at SAR 3,446, and an ounce at SAR 10,718.

In addition to the Saudi Riyal, the Omani Rial (OMR) also saw no change against the Pakistani rupee (PKR) on March 3, 2025, with the buying rate standing at Rs722.15 and the selling rate at Rs730.65 in the local open market. Pakistan receives over $1 billion in remittances annually from Oman, with many Pakistanis employed in various sectors, including construction, oil and gas, and healthcare. The strong relations between Pakistan and Oman are based on historical, cultural, and economic ties, as well as their geographical proximity across the Arabian Sea.

Pakistani expats in Saudi Arabia sent $728.3 million in remittances in January 2025, a 5.5% decline from the previous month but 24% higher than the same month last year. These remittances are crucial for Pakistan's foreign exchange reserves and the country's economy. The two nations recently signed an agreement for deferred payment on oil imports worth $1.2 billion, further solidifying their economic partnership.

The steady exchange rate of the Saudi Riyal to Pakistani Rupee is a positive sign for the economy, as remittances from Saudi Arabia and other countries continue to play a vital role in supporting local economies and managing daily living costs in Pakistan.