KARACHI, February 2, 2026: The Saudi Riyal (SAR) closed today at Rs74.69 against the Pakistani Rupee (PKR) in the open market, showing a very mild softening compared to recent sessions and remaining significantly below the 2025 mid-year high of Rs76.03 (July peak), according to leading currency dealers. The selling rate was quoted around Rs75.26.
This near-flat performance comes amid stable remittance flows from Saudi Arabia and a generally calm interbank/open-market environment at the start of the new month.
Remittance lifeline remains strong
For millions of Pakistani households the Saudi Riyal continues to be the single most important monthly income source. Workers employed in Saudi Arabia’s construction sector, hospitals, hotels and domestic services keep the remittance corridor active. Saudi Arabia has consistently ranked as the **top remittance origin country**, contributing **$913.3 million** in May 2025 alone. Cumulative remittances between July 2024 and May 2025 reached **$34.9 billion**, reflecting a healthy **28.8%** year-on-year growth.
At today’s rate of **Rs74.69**, every 1,000 Saudi Riyals sent home delivers **Rs74,690** — virtually unchanged from recent days. While the figure is well off the highs seen earlier in 2025, it still provides essential support for education, healthcare, groceries and household expenses for a very large number of families.
Mixed economic signals
A stable-to-soft Riyal around the Rs74.70 mark offers two-sided effects:
– Remittance recipients see no major erosion in purchasing power (the recent range has been quite narrow.
– Importers of Saudi crude, refined products and petrochemicals continue to benefit from relatively lower landed costs in rupee terms.
– Pakistan’s trade balance receives some indirect breathing room.
– Foreign exchange reserves (above $11 billion as of late 2024) are still being steadily supported by these inflows, helping the State Bank manage inflation and external debt obligations.
The relatively weaker Rupee also keeps Pakistani exports (rice, textiles, leather, fruits, surgical goods) attractive in global markets.
Quick reference: the two currencies
– Saudi Riyal (SAR) — subdivided into 100 halala, rigidly pegged to the US dollar (≈ 3.75 SAR = 1 USD), managed by SAMA for maximum stability.
– Pakistani Rupee (PKR) — symbol ₨, operates under a managed float supervised by the State Bank of Pakistan, influenced by inflation, trade balance, and above all — remittance volumes.
The SAR–PKR pair is currently trading in a fairly narrow band. With Hajj/Umrah season still active and overseas Pakistani worker outflows remaining robust, the remittance corridor is expected to stay one of the most reliable economic links between the two countries. Any meaningful shift will likely require a change in global oil prices, US dollar strength, or domestic Pakistani reserve dynamics.
For now, the Riyal at Rs74.69 continues to act as a quiet but dependable pillar for millions of households.
Sources: State Bank of Pakistan, Forex Association of Pakistan, open-market dealer quotes