SAR to PKR, Saudi Riyal To PKR Exchange Rate in Pakistan – 17 August 2023

The Saudi Riyal (SAR) to Pakistani Rupee (PKR) SAR to PKR exchange rate is subject to constant fluctuations, driven by global supply and demand dynamics. Understanding the current rate of exchange can help individuals make informed decisions when converting currency.

As of 17 August 2023, the SAR to PKR exchange rate stands at Rs. 78.64 at the beginning of the business day. This means that 1 SAR is equivalent to 78.64 PKR.

It’s important to note that this rate is subject to change throughout the day, influenced by market demand for foreign currency. For example, if there is a sudden increase in demand for SAR, the exchange rate may go up. Conversely, if there is a decrease in demand, the exchange rate may go down.

The SAR to PKR exchange rate provided by banks as an interbank rate may differ slightly from the rate available in the open market. Typically, the open market rate tends to be slightly higher. This is because the open market rate reflects the actual demand and supply of currency, while the interbank rate is typically set by banks based on their own internal policies.

Remittances received in customers’ bank accounts are credited based on interbank rates. This means that if you receive a remittance in SAR, the amount credited to your account will be based on the interbank rate on the day the remittance is received.

SAR to PKR Exchange Rate in Pakistan Today

Date Exchange Rate Change (PKR)
17 August 2023 Rs. 78.64
16 August 2023 Rs. 78.64

The SAR to PKR exchange rate is influenced by various factors, including:

  • Global economic conditions: If the global economy is doing well, the demand for SAR may increase, which could lead to an increase in the exchange rate. Conversely, if the global economy is doing poorly, the demand for SAR may decrease, which could lead to a decrease in the exchange rate.
  • Geopolitical events: Geopolitical events, such as wars or terrorist attacks, can also affect the exchange rate. If there is a geopolitical event that causes uncertainty or instability in the region, the demand for SAR may decrease, which could lead to a decrease in the exchange rate.
  • Trade balances: The trade balance between Pakistan and Saudi Arabia can also affect the exchange rate. If Pakistan exports more goods and services to Saudi Arabia than it imports, the demand for SAR may increase, which could lead to an increase in the exchange rate. Conversely, if Pakistan imports more goods and services from Saudi Arabia than it exports, the demand for SAR may decrease, which could lead to a decrease in the exchange rate.
  • Interest rate differentials: The interest rate differential between Saudi Arabia and Pakistan can also affect the exchange rate. If the interest rates in Saudi Arabia are higher than the interest rates in Pakistan, the demand for SAR may increase, which could lead to an increase in the exchange rate. Conversely, if the interest rates in Saudi Arabia are lower than the interest rates in Pakistan, the demand for SAR may decrease, which could lead to a decrease in the exchange rate.
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The closing interbank exchange rate for SAR to PKR on 17 August 2023 will be updated at the end of the business day. This rate will reflect the final value of the Saudi Riyal against the Pakistani Rupee for the day.

Comparing previous exchange rates can offer insights into the recent trends of the SAR to PKR exchange rate. On 16 August 2023, the exchange rate remained at Rs. 78.64, indicating stability over the course of one day.

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