January 31, 2025 – The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) against the Pakistani Rupee (PKR) displayed minor fluctuations in today’s market session, reflecting a largely stable currency environment that supports cross-border trade and investment activities.
As per the latest updates from exchange companies, the buying and selling rates for the Saudi Riyal were quoted at PKR 74.25 and PKR 74.75, respectively. The UAE Dirham followed a similar trend, with a buying rate of PKR 75.98 and a selling rate of PKR 76.50. The Qatari Riyal also held steady, with a buying rate of PKR 76.50 and a selling rate of PKR 77.09.
This consistency in exchange rates indicates a steady economic environment, which is encouraging for individuals and businesses engaged in international transactions, particularly those between Pakistan and the Middle East.
When looking at the currency data over the past 24 hours, the exchange rates for SAR, AED, and QAR showed minimal change. Specifically, the Saudi Riyal’s bid and ask prices were consistent with the previous day, maintaining a very slight drop of 0.40% on the ask price compared to the prior day’s rates. Similarly, the UAE Dirham saw a decrease of 0.52% on the ask price from the previous day, while the Qatari Riyal also showed a marginal decline of 0.49%. These minor fluctuations reflect the stability of the PKR against these key regional currencies, which are closely monitored due to their importance in Pakistan’s remittance inflows and business transactions.
The stability of exchange rates is particularly significant in the context of Pakistan’s economy, which remains heavily reliant on remittances from the Middle East. The region serves as a primary source for both energy imports and financial inflows. With approximately 11.5 million Pakistanis residing in Middle Eastern countries as of November 2024, the exchange rates of the Saudi Riyal and UAE Dirham are key indicators for Pakistanis who send remittances back home.
According to recent reports, the Middle East played a dominant role in supporting Pakistan’s economy, with remittances from this region accounting for nearly 46% of the total remittance inflows in December 2024. Saudi Arabia remained the leading contributor, with remittances rising significantly by 33.4% year-on-year to $770.6 million. The UAE followed closely as the second-largest source of remittances, sending $631 million, which was an impressive 50.7% increase from the previous year.
This influx of remittances continues to be an essential pillar for Pakistan’s economy, particularly in terms of supporting the country’s foreign exchange reserves and providing financial relief to families across the country. The steady exchange rates between the SAR, AED, and QAR against the PKR help to create a more predictable environment for those relying on remittances, ensuring they get the best value for their money.
As Pakistan moves forward with its economic goals, maintaining exchange rate stability will remain a crucial element in fostering trust and confidence among those involved in cross-border financial activities. With remittances continuing to be a key economic driver, the role of the Saudi Riyal, UAE Dirham, and Qatari Riyal will remain central to Pakistan’s financial landscape in the coming months. The stability in these currencies is expected to provide some relief and assurance to Pakistan’s business community, as well as to the millions of Pakistanis working in the Middle East and supporting their families back home.