The Saudi Riyal (SAR) to Pakistani Rupee (PKR) exchange rate is a crucial factor for anyone involved in financial transactions between Saudi Arabia and Pakistan. This is particularly important for Pakistani expatriates working in Saudi Arabia who send remittances back home to their families.
As of October 5, 2024, one Saudi Riyal is trading at approximately PKR 74.23. However, it’s crucial to remember that this rate can fluctuate throughout the day due to various market influences.
Chart: Saudi Riyal To PKR Rate Today 5 October 2024
| Date | Rate (SAR to PKR) |
|---|---|
| 5 October 2024 | 74.23 |
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Disclaimer: Exchange rates are dynamic and can change frequently. The provided information is an approximation based on the prevailing market conditions on October 5, 2024. For the most current and accurate rates, it is recommended to consult a financial institution or a reliable online currency converter.
Factors Influencing the Riyal to PKR Rate
The SAR to PKR exchange rate is influenced by a number of factors, including:
- Economic conditions in both Saudi Arabia and Pakistan: Saudi Arabia’s economy, heavily reliant on oil exports, can impact the Riyal’s value. Similarly, economic fluctuations in Pakistan, such as inflation rates and GDP growth, can affect the PKR’s strength against the SAR.
- Global oil prices: As a major oil exporter, the Saudi Riyal can be significantly influenced by fluctuations in global oil prices.
- Remittances from Pakistani expatriates: A significant inflow of remittances from Pakistani workers in Saudi Arabia can strengthen the PKR.
- Government policies and regulations: Economic policies and regulations in both countries, such as interest rates and currency controls, can influence the exchange rate.
- Market sentiment and speculation: Investor confidence and market speculation can also play a role in short-term exchange rate movements.
Staying Updated on SAR to PKR Rates
For those who need to stay informed about the SAR to PKR exchange rate, here are some helpful resources:
- Financial institutions: Banks and exchange houses provide up-to-date exchange rate information.
- Online currency converters: Many websites and apps offer real-time currency conversion tools, such as Google Finance, XE.com, and others.
- Financial news websites: Reputable financial news sources often publish current exchange rates and market analysis.
Other Popular Currency Rates in Pakistan
Besides the SAR, here are some other popular currency exchange rates in Pakistan as of October 5, 2024 (approximate values):
| Currency | Rate (1 Unit to PKR) |
|---|---|
| US Dollar (USD) | 301 |
| Euro (EUR) | 328 |
| British Pound (GBP) | 375 |
| UAE Dirham (AED) | 75.85 |
| Kuwaiti Dinar (KWD) | 987 |
| Japanese Yen (JPY) | 2.06 |
| Chinese Yuan (CNY) | 41.65 |
| Indian Rupee (INR) | 3.51 |
| Canadian Dollar (CAD) | 224 |
| Australian Dollar (AUD) | 197 |
Conclusion
The SAR to PKR exchange rate is a crucial financial indicator for individuals and businesses with ties to Saudi Arabia and Pakistan. Understanding the factors that influence this rate and staying updated on its movements is vital for making informed financial decisions, especially for Pakistani expatriates sending remittances and managing their finances.
