Saudi Riyal to PKR exchange rate

November 09, 2024 (MLN): The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) depreciated against the Pakistani rupee (PKR) on Friday.

Exchange companies quoted SAR at 73.52 for buying and 74.14 for selling, a decline of about 0.08%. AED also fell 0.05% from the previous session, with a buying rate of PKR 75.26 and a selling rate of PKR 75.97.

Similarly, QAR decreased 0.09%, bought at PKR 75.69 and sold at PKR 76.58.

Change is on Ask price

Since a significant portion of the Pakistani diaspora resides in Middle Eastern countries, the exchange rates of PKR against AED and SAR are closely monitored for remittances and business transactions.

The Middle East region has been serving as the primary source of energy imports and foreign remittances.

The Pakistani diaspora, which has around 4.5 million members in the Middle East, represents the entire spectrum of Pakistani society, from business leaders, entrepreneurs, and white—and blue-collar workers to bankers and chartered accountants.

The Gulf countries including the Kingdom of Saudi Arabia (25%) and the United Arab Emirates (20%) have contributed about 54% to overall Pakistan’s remittances in the first four months of FY25.

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