The Saudi Riyal (SAR) to Pakistani Rupee (PKR) exchange rate remains a vital metric for businesses, expatriates, and investors. As of December 7, 2024, the exchange rate was approximately 73.96 PKR per SAR. This rate has shown minor fluctuations recently, indicating a relatively stable trend over the past week. The highest exchange rate recorded during this period was 74.06 PKR, while the lowest was around 73.75 PKR. This reflects marginal changes due to variations in global currency markets and domestic economic conditions in Pakistan
Key Factors Affecting the SAR to PKR Rate
- Economic Policies: The State Bank of Pakistan’s monetary policies, particularly interest rates and foreign currency reserves, play a significant role in maintaining the rupee’s value.
- Inflation in Pakistan: High inflation rates in Pakistan contribute to the depreciation of the rupee, affecting its exchange rate against the Saudi Riyal.
- Global Oil Prices: As a major importer of oil, fluctuations in global oil prices can impact Pakistan’s trade balance and, in turn, the PKR’s stability against foreign currencies like the SAR.
Projections and Future Trends
Looking ahead, the SAR to PKR exchange rate is expected to hover around the 73.90 to 74.00 range for the remainder of December 2024. Projections for early 2025 indicate slight declines, potentially dropping to 73.63 PKR by February 2025. This prediction considers ongoing economic challenges in Pakistan, including a widening fiscal deficit and external debt pressures
Practical Implications
For expatriates sending remittances to Pakistan, the relatively stable rate ensures predictability in transaction values. Businesses involved in imports and exports between Saudi Arabia and Pakistan can also leverage the current trends for financial planning.
If you’re considering currency exchange or international transfers, it’s advisable to monitor real-time rates and choose cost-effective platforms to minimize transfer fees. Providers like Wise or XE offer competitive rates and helpful tools for tracking currency movements
