As of the present date, August 26, 2023, the prevailing exchange rate between the Saudi Riyal (SAR) and the Pakistani Rupee (PKR) in Pakistan stands at Rs. 80.82. The rate indicated above is the assessment of the Saudi Riyal in the free market. There has been a notable decrease of Rs. 0.26 in the exchange rate of the Saudi Riyal when compared to the previous day. The prevailing interbank exchange rate between the Saudi Riyal and the Pakistani Rupee is recorded as Rs 80.82. The State Bank of Pakistan (SBP) furnishes the final interbank rate at the culmination of the business day.
A thorough understanding of the buying and selling rates is essential when engaging in foreign currency transactions. The buying rate refers to the rate at which a financial institution or currency exchange company purchases foreign currency from a customer, while the selling rate indicates the rate at which they sell foreign currency to a customer.
When examining the exchange rate between the Saudi Arabian Riyal (SAR) and the Pakistani Rupee (PKR) in the informal market, it is commonly noted to be slightly higher in comparison to the interbank rate provided by banks for the purchase of foreign currency from their customers. It is advisable for individuals to seek guidance from their respective financial institutions, such as banks, or consult nearby foreign exchange companies or authorized dealers in order to acquire the most accurate and current currency exchange rates before engaging in any currency-related transactions. It is imperative to recognize that the crediting of all incoming payments to consumers’ bank accounts is contingent upon interbank rates.