Saudi Riyal remains steady against PKR and Bangladeshi Taka
Key takeaways
- This reflects Saudi Arabia’s strong economy and the oil market combined with Saudi Arabia’s regional partnerships with labor-exporting countries.
- Currently, SAR 1 is trading in Pakistan for around 74.10 to 74.19 PKR, though open market trading is slightly higher.
- Currently, Pakistani workers in Saudi Arabia benefit the most from the SAR to PKR rate.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize KARACHI/RIYADH: The Saudi Riyal (SAR) reported even greater stability with most of South Asia’s currencies, showing positive trends with the already large communities of Pakistani and Bangladeshi expats in Saudi Arabia. This reflects Saudi Arabia’s strong economy and the oil market combined with Saudi Arabia’s regional partnerships with labor-exporting countries.
Currently, SAR 1 is trading in Pakistan for around 74.10 to 74.19 PKR, though open market trading is slightly higher. SAR is also trading around 32.70 to 32.74 BDT. These rates provide decent purchasing power for expenses when the SAR sent home struggles with the family for day-to-day expenses.
Currently, Pakistani workers in Saudi Arabia benefit the most from the SAR to PKR rate. Their expenses at the rate of conversion are more affordable in Pakistan for education, housing, healthcare, and even to pay loans. The workers in the construction, service, and other critical sectors provide remittances that boost Pakistan’s economy.