Saudi Riyal Hits Rs74.55 Boosting Pak-Saudi Ties
As per details, the exchange rate of the Saudi Riyal has increased, with its selling price reaching Rs74.55 on the first day of the new business week.
The partnership between Pakistan and Saudi Arabia is marked by a long-established and mutually beneficial alliance, underscored by considerable financial assistance from the kingdom.
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Each year, millions of Pakistani expatriates working in Saudi Arabia send substantial portions of their earnings back to Pakistan. These remittances are crucial financial resources that allow families to manage daily living costs, support educational pursuits, and invigorate local economies. This financial interdependence further strengthens the economic connections between the two nations.
Moreover, Saudi Arabia serves as a key destination for Pakistani laborers seeking job opportunities. Upon their return, many of these workers exchange Saudi Riyals for Pakistani Rupees (PKR), reflecting the active currency transactions that take place between the two countries.
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