Saudi Riyal SAR to PKR:
SAR is the official currency for The kingdom of Saudi Arabia, The SAR has a healthy and well fed gold reserve backing it up as well as lots of juicy oil money that gives SAR ( Saudi Arab Riyal a certain level of security and stability in the market and allows it’s to have positive speculations despite looming pandemics, slowed down economic activity and what not.
Part of the reason why SAR to PKR or rather the PKR to SAR is such an important measure is that almost every muslim has an obligatory visit to Saudi Arab for the mandatory performance of the Hajj pilgrimage. The tourists from Pakistan buy SAR at the exchange rates prevailing for SAR to PKR and spend SAR in Saudi Arab. Moreover not only Muslims from Pakistan but form all over the world go at least once in a life time to perform Hajj and all of them have a demand for purchasing SAR to finance their expenditures within Saudi Arab. This gives KSA’s SAR a lot of demand and strength against any other currency and also adds to the overall reliability rating of the currency as it always has an assurance of tourism income to fuel economic activity.
The SAR to PKR has remained relatively stable with a slow but steady upwards trend from 27.19 PKR to 1 SAR in 2017 to 41.23 PKR to 1 SAR in 2020. 2021 wasn’t much of an improvement as the economy was still recovering from the impact of COVID but the SAR managed to stay stable even in such perilous times. AS of 2022 the Riyal reached an all time high during the year of 63.02 PKR to SAR which was not only indicative of the strong performance and recovery of KSA and the SAR but also gave a clear indication of the poor performance of Rupee during this Time period.