The Saudi Riyal (SAR) has witnessed a significant surge in value against the Pakistani Rupee (PKR). The exchange rate has been experiencing fluctuations, impacting trade and exchange activities between Saudi Arabia and Pakistan.
Interbank Exchange Rate
The official exchange rate set by the State Bank of Pakistan indicates that 1 SAR is equivalent to PKR 74.43. The buying rate is slightly lower at PKR 74.28, whereas the selling rate is PKR 74.43.
| Date | Buying Rate (PKR) | Selling Rate (PKR) |
|---|---|---|
| 18 Jul 23 | 74.28 | 74.43 |
Open Market Rate
In the open market, the conversion rate for 1 SAR to PKR stands at PKR 73.80 for buying and PKR 74.50 for selling.
| Date | Buying Rate (PKR) | Selling Rate (PKR) |
|---|---|---|
| 18 Jul 23 | 73.80 | 74.50 |
The Saudi Riyal has demonstrated a remarkable gain in value against the Pakistani Rupee causing fluctuations in exchange rates. This substantial gain in the Saudi Riyal value against the Pakistani Rupee has significant implications for trade and investment between the two countries. Businesses and individuals involved in cross-border transactions need to closely monitor the currency dynamics to make informed decisions.
