The Saudi Riyal remains stable in Pakistan’s open market, with a purchasing rate of Rs. 73.8 recorded on Monday, December 30.
Furthermore, according to the currency website, the selling rate has also remained constant at Rs. 74.35 as the new business week commences.
The relationship between Pakistan and Saudi Arabia is characterized by a long-standing and mutually advantageous partnership, highlighted by substantial financial support from the kingdom.
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Every year, millions of Pakistani expatriates employed in Saudi Arabia remit significant portions of their earnings back to their home country. These remittances serve as a vital financial resource, enabling families to cover daily expenses, support education, and stimulate local economies. This financial relationship further solidifies the economic ties between the two nations.
Additionally, Saudi Arabia is a prominent destination for Pakistani workers in search of employment opportunities. Many of these workers convert Saudi Riyals to Pakistani Rupees (PKR) upon their return, illustrating the dynamic currency exchanges that occur between the two countries.
