Riyal to PKR Today: Exchange Rate Unchanged at Rs74.63
The exchange rate's impact on remittances from Saudi Arabia is significant, with Pakistanis sending $728.3 million in January 2025, and the country receiving $3.1 billion in remittances from overseas workers in February 2025, emphasizing the importance of a stable exchange rate for Pakistan's economy.
The Saudi Riyal exchange rate remained steady against the Pakistani rupee on Monday, March 10, 2025, with 1 SAR equaling Rs74.63 in the open market, while the selling rate rose to Rs75.18, impacting remittances from Pakistani expatriates in Saudi Arabia.
The exchange rate has significant implications for Pakistan's forex reserves, as a substantial number of Pakistani expatriates live and work in Saudi Arabia, sending remittances back home. In January 2025, Pakistanis sent $728.3 million from Saudi Arabia, marking a 5.5% decrease from the previous month but a 24% increase from the same month last year.
The Saudi Riyal exchange rate in Pakistan today is Rs74.58 in the open market, with 1,000 riyals equivalent to Rs74.58 in Pakistani currency. On March 11, 2025, the exchange rate increased by 2 paisas against the Pakistani rupee to Rs74.65, and the selling rate rose to Rs75.20. This fluctuation is crucial for Pakistani expats and their families back home, who rely on these remittances.
Pakistan received $3.1 billion in remittances from overseas workers in February 2025, a 3.8% increase from January 2025 and a 38.6% rise from February 2024. Pakistani expats in Saudi Arabia sent $744.4 million, a 2.21% monthly increase and 37.88% yearly rise, highlighting the significant contribution of Saudi Arabia to Pakistan's remittances.
The stability of the Saudi Riyal exchange rate against the Pakistani rupee is closely watched, as it affects the livelihoods of many Pakistanis and the country's economy as a whole. As the exchange rate continues to fluctuate, it is essential to monitor its impact on remittances and the overall economic landscape of Pakistan.
