The Saudi Riyal maintained a stable exchange rate against the Pakistani Rupee in the open market on Monday, with no change recorded at the start of the week. As of May 19, the buying rate remained at Rs75.09, while the selling price was steady at Rs75.64, according to local currency dealers.
This consistency reflects a period of calm in the currency market, with no immediate shifts in demand or supply. The Saudi Riyal (SAR), the official currency of the Kingdom of Saudi Arabia, continues to be widely exchanged in Pakistan, especially given the strong presence of Pakistani workers in the Gulf nation.
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Meanwhile, diplomatic and economic relations between Pakistan and Saudi Arabia continue to strengthen. A recent high-level meeting in Jeddah between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman reaffirmed both countries’ commitment to closer cooperation, particularly in defence and security.
The Pakistani delegation included Deputy Prime Minister Ishaq Dar, Army Chief General Asim Munir, and Punjab Chief Minister Maryam Nawaz. Discussions focused on expanding ties across various sectors, further solidifying the longstanding partnership.
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Remittances from Saudi Arabia also remain a crucial source of foreign exchange for Pakistan. In February 2025, overseas Pakistanis in the kingdom sent $744.4 million, reflecting a monthly rise of 2.21% and a significant 37.88% increase compared to the same month in 2024.
The steady currency rate, along with diplomatic engagement and rising remittances, highlights the deepening economic link between the two nations.