Currency exchange rate: Saudi Riyal to PKR for January 24, 2025
The funds would be used to support both foreign and local investments. PHOTO: REUTERS
The Saudi Riyal (SAR) remained stable in the open market on Friday. The buying rate was recorded at Rs74.06, while the selling rate stood at Rs74.20.
Despite no movement in the exchange rates, the Saudi Riyal continues to hold steady as a popular choice for remittances, driven by ongoing demand from Pakistani expatriates working in Saudi Arabia.
Friday's rate:
SAUDI RIYAL (SAR): Selling Rs74.20, Buying Rs74.06
On the other hand, the exchange rates for major currencies today show the US Dollar (USD) being traded at Rs279.10 for selling and Rs278.60 for buying.
The Euro (EUR) stands at Rs290.70 for selling and Rs290.18 for buying.
Meanwhile, the British Pound (GBP) is being exchanged at Rs344.94 for selling and Rs344.32 for buying.
Furthermore, the Pakistan Stock Exchange (PSX) saw a notable surge on Friday, with the index rising by 1.43%, reaching 115,662.87 during intra-day trading at 12:45 PM.
The KSE-100 index gained 1,625.08 points.
The market hit a high of 115,696.40 and a low of 114,383.16, showing strong positive movement throughout the day.
Trading volume totaled 144.6 million shares, indicating robust market activity and investor confidence.
The total value of shares traded amounted to approximately 12.88 billion. The previous close was 114,037.79, reflecting the positive market sentiment and investor optimism.