Saudi Riyal Exchange Rate
On September 5, 2024, the Saudi Riyal (SAR) is priced at Rs 73.98 when buying and Rs74.53 when selling in Pakistan open market. This reflects an increase of 7 paisas from the previous day’s rate of Rs73.91. Such fluctuations in the exchange rate can significantly impact individuals and businesses engaged in currency exchange.
| Date | Latest Exchange Rate | CHANGE |
| September 5, 2024 | Rs. 73.98 | 7 paisas |
| September 4, 2024 | Rs. 73.91 |
SAR to PKR Exchange Rate
The Saudi Riyal, known as SAR or SR, serves as the official currency of Saudi Arabia. It is divided into 100 halalas. This currency is particularly significant for the Pakistani expatriate community in Saudi Arabia, which numbers over 2.7 million people. Consequently, any changes in the SAR to PKR exchange rate are closely monitored by this group, as it directly affects their financial transactions, savings, and remittances back home.
For instance, with the current rate, 500 Saudi Riyals convert to approximately Rs36,940 in Pakistani currency. Similarly, 1,000 Saudi Riyals would be equivalent to about Rs73,980. Such calculations are crucial for expatriates sending remittances back home or planning financial transactions. The remittances sent by Pakistanis in Saudi Arabia contribute significantly to Pakistan’s economy, making the exchange rate even more critical.
Moreover, the exchange rate can be influenced by various factors, including economic conditions in both countries, inflation rates, and geopolitical events. For example, changes in oil prices can have a direct impact on the Saudi economy, thereby affecting the value of the Riyal. As a major oil-producing nation, fluctuations in global oil prices can lead to changes in the SAR’s strength against the Pakistani Rupee.
To sum up, the exchange rate for the Saudi Riyal in Pakistan’s open market stands at Rs73.98. This information is vital for anyone involved in currency exchange involving the SAR. Staying updated on these rates allows individuals and businesses to make informed financial decisions, ensuring they get the best value for their money when dealing with the Saudi Riyal. Monitoring the exchange rate regularly can help expatriates and businesses plan their transactions better, optimize their remittances, and manage their finances effectively in an ever-changing economic landscape.
 in Pakistan. Stay updated on daily rates for currency conversion and financial planning.){kind=link}