Saudi Riyal Holds Steady Against Pakistani Rupee Amid Hajj Season and Surge in Remittances
The Saudi Riyal (SAR) maintained its position against the Pakistani Rupee (PKR) in the open market on Saturday, June 21, 2025, with the buying rate steady at Rs75.59 and the selling rate unchanged at Rs76.14.
This rate stability coincides with heightened seasonal demand driven by the Hajj pilgrimage and a robust flow of remittances from Pakistanis living in Saudi Arabia. With one Saudi Riyal converting to Rs75.59, an amount of 500 SAR translates to Rs37,785 in the open market.
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The steady exchange rate reflects consistent remittance activity, particularly during the religious travel period, which typically boosts foreign currency reserves in Pakistan. The State Bank of Pakistan (SBP) has reported a substantial 28.8% increase in remittances during the July 2024 to May 2025 period, reaching nearly $35 billion.
May 2025 marked the highest monthly inflow of the fiscal year, with remittances hitting $3.69 billion. Saudi Arabia emerged as the top remittance source, contributing $913.3 million, followed by the United Arab Emirates with $754.2 million.
Currency exchange remains a vital mechanism for facilitating global trade, travel, and investment. Exchange rates are influenced by various factors, including market demand, inflation trends, political stability, and economic performance. Central banks occasionally intervene to regulate currency fluctuations, and for individuals and businesses, staying informed about exchange rates is essential for effective financial planning in international contexts.
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