SAR to PKR Currency Rate Today
Today Riyal Rate in Pakistan is Rs: 48.8
|29-03-2022||SAR||48.05 PKR||48.8 PKR|
|28-03-2022||SAR||48.05 PKR||48.8 PKR|
|27-03-2022||SAR||48 PKR||48.75 PKR|
|26-03-2022||SAR||48 PKR||48.75 PKR|
|25-03-2022||SAR||48 PKR||48.75 PKR|
The Riyal is the official currency of the Kingdom of Saudi Arabia. Even before Saudi Arabia’s name was created, the Riyal was the currency. Riyal was the currency of the Kingdom of Hejaz from 1916 to 1925 and the Kingdom of Saudi Arabia. Saudi Riyal is abbreviated as SR. 100 halals equal to one Riyal. Like most other currencies, Saudi Riyal is now tied to the US Dollar at a rate of 1 USD = 3.75 SR.
SAR to PKR Exchange Rates
Because of their religious links, the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan have long maintained cordial and accommodating relations. Saudi Arabia considers Pakistan to be its closest Muslim ally. Throughout the year, many Pakistanis visit the holy towns of Mecca and Medina. As a nuclear power, Pakistan has also assisted Saudi Arabia with its defense needs. Saudi Arabia supported Pakistan during the war with India, and in 1971, it opposed the creation of Bangladesh.
Saudi Arabia has also provided significant aid to Pakistan in education and religion. It has assisted Pakistan in the construction of numerous mosques and madrassas. The iconic Faisal Mosque in Islamabad is named after Saudi Arabia’s King Faisal. In 1977, the city of Lyallpur was renamed Faisalabad in honor of King Faisal.
Although Saudi Riyal has a high exchange rate in Pakistan, it is still far less than several high-value currencies such as the Dollar and Euro. In recent years, the PKR and the SAR exchange rate was as low as 22.19 PKR for 1 SAR.
The current SAR to PKR exchange rate is Rs. 48.8. It has continued to grow in numbers throughout time, putting a strain on Pakistan’s economy.
Because the majority of Pakistan’s petroleum is imported from Saudi Arabia, and because the exchange rate is rising, the price of fuel is rising, but so are the costs of other items such as clothing, food, and other necessities. With the change of government in Pakistan in 2018, it is expected that relations between Pakistan and Saudi Arabia will improve, as the country hopes to join the China-Pakistan Economic Corridor project as a third partner. As a result, trade relations would strengthen, and currency exchange rates would fall.
In Pakistan, the current Riyal rate is Rs. 48.8, whereas the previous day’s rate was Rs. 48.8. Every hour, the SAR to PKR exchange rate changes. This page shows the last 30 days of KSA Riyal to Pakistan Rupee exchange rates.
SAR is the international currency code for Saudi Riyal. The currency’s symbol is. 1 riyal, 5 riyals, 10 riyals, 20 riyals, 50 riyals, 100 riyals, and 500 riyals are Riyadh’s most commonly used banknotes. Since Indians make up the largest population of expatriates in the Kingdom of Saudi Arabia, the most in the demand exchange rate for Saudi Riyal is in Indian Rupee, i.e. SR to INR. As a result, money conversion between SAR and INR continues in foreign exchange markets and money exchange stalls.
The Saudi Riyal has an inflation rate of -0.20%. Saudi Arabian Monetary Agency is the bank in charge of maintaining the flow of Saudi Riyal in local and international foreign exchange markets. 5 halala, 10 halala, 25 halala, 50 halala, 100 halala, 1 riyal, and 2 riyal are the most common coins used by locals and tourists.
The History of Saudi Riyal
Before 1925, the Saudi Riyal was worth 20 Ottoman Kurus coins, referred to as Qirsh in Arabic. Coins were first issued as the legal currency in the kingdom in 1935. Up to 1960, one Riyal was equal to 20 qirshes. The name ‘Halala’ first appeared in 1963, and 1 Riyal was equal to 100 halals.
In 1953, the Saudi Arabian Monetary Agency took the initiative and began issuing 10 Riyal Hajj Pilgrims receipts. Later, in 1954 and 1956, the agency issued 1 and 5 Riyals. These receipts were designed to look like actual banknotes and were created solely for the convenience of Hajj pilgrims who needed to exchange their currency. After growing popularity in Saudi Arabia, these receipts eventually supplanted the silver coins that were previously used in financial transactions.
The monetary agency began issuing banknotes for general usage regularly in 1961. The Hajj Pilgrim Receipts were fully discontinued in 1965. The 500 Riyal note was introduced in 1983. The Saudi Arabian Monetary Agency began issuing 20 and 200 Riyal banknotes in 2000, one year after the Kingdom of Saudi Arabia celebrated its one-hundredth anniversary.
The appearance of the bank notes changed over time. The sixth series, released in 2007, included King Abdullah’s face. The sixth series, which included King Salman Bin Abdul Aziz Al Saud’s face, was released in 2016.