Karachi – The Saudi Riyal is currently being traded at Rs. 74.31 (buying) and Rs. 74.45 (selling) in the interbank market, while in the open market it is standing at Rs. 74.35 (buying) and Rs. 75.40 (selling).
The Riyal is continuing to play a vital role in Pakistan’s economy due to strong labor ties with Saudi Arabia. The stable exchange rate is supporting consistent remittance flows, which are helping ease pressure on the current account.
Meanwhile, imports of oil and related products from Saudi Arabia are being affected by the exchange rate, slightly increasing domestic energy costs. The currency trend is reflecting steady economic relations between the two countries.
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