The Saudi Riyal (SAR), after a minor gain, was recorded at Rs74.94 against the Pakistani Rupee (PKR) in the open market on Tuesday, May 06, 2025.
The Saudi Riyal’s selling rate was noted at Rs75.48.
Saudi Arabia’s official currency is denoted as SAR or SR. A single Riyal is divided into 100 halalas.
The relationship between Pakistan and Saudi Arabia is characterized by a deep-rooted, mutually supportive alliance, reinforced by significant financial aid from the Saudi kingdom.
Recently, Saudi Arabia extended a $3 billion deposit with Pakistan for an additional year to further strengthen the economy of the fellow Islamic nation.
Every year, millions of Pakistanis working in Saudi Arabia remit large portions of their income back to the homeland.
Read more: Australian Dollar to Pakistani Rupee Rate Today- May 5, 2025
These remittances are vital financial lifelines, enabling families to cover daily expenses, fund education, and stimulate local economies.
This economic reliance deepens the financial ties between the two countries.
Additionally, Saudi Arabia is a major hub for Pakistani workers seeking employment. Upon returning, many convert Saudi Riyals to Pakistani Rupees (PKR), highlighting the active currency exchange between the nations.
Many Pakistani workers in Saudi Arabia send remittances home, significantly boosting Pakistan’s economy.
Meanwhile, the fluctuation of gold prices continues in international market due to which the 24-karat gold rates in Saudi Arabia recorded were recorded at 4,653 per tola on Tuesday, May 06, 2025
The per tola gold rate on Monday was 4,552 SAR.
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 3,993, with an ounce of gold costing 12,421 Saudi Riyal.
, after a minor gain, was recorded at Rs74.94 against the Pakistani Rupee (PKR) in the open market on Tuesday, May 06, 2025.){kind=link}