Saudi Riyal to PKR Rate Steady, Remittances Surge – March 17, 2025

As of Monday, March 17, 2025, the Riyal is holding steady in the open market at Rs74.71, and if you’re looking to buy, it’s being sold for Rs75.11, according to the Forex Association of Pakistan.

For those who might not know, the Riyal—abbreviated as SAR or SR — is Saudi Arabia’s official currency, and one Riyal breaks down into 100 halalas (a fun little fact to throw in there).

Now, beyond just exchange rates, it’s worth noting the bigger picture. The ties between Pakistan and Saudi Arabia have always been strong—historic, really. Whether it’s through diplomatic support or financial aid, Saudi Arabia has often stepped in when Pakistan needed a hand.

Speaking of which, there’s some good news on the remittance front! According to the State Bank of Pakistan (SBP), Pakistan received a whopping $3.1 billion in remittances during February 2025, which is a 3.8% increase from January. Not only that, but when compared to the same month last year, remittances are up 38.6%—that’s quite a jump, showing how crucial overseas Pakistanis are to the country’s economy.

Interestingly, Saudi Arabia topped the chart when it comes to sending money back home. Pakistanis living there remitted $744.4 million in February alone — that’s up 2.21% compared to January and almost 38% higher than February last year. Clearly, our hardworking community abroad is making a huge impact.

And for those curious about gold prices (because who isn’t keeping an eye on that these days?), 24-karat gold in Saudi Arabia hit a historic high on Monday. One tola is now priced at 4,196 SAR — ouch, right? Meanwhile, 10 grams of 24k gold are going for 3,601 SAR, and if you’re thinking in bigger chunks, an ounce of gold is standing at 11,201 SAR, according to forex.pk.

So, while the Riyal-to-Rupee rate might be calm for now, there’s a lot happening around it — from rising remittances to soaring gold prices — all pieces of a bigger economic puzzle both countries are navigating together.