Saudi Riyal gained value against Pakistan's currency in the open market with an increase of 61 paisas. The new rate of the Saudi Riyal is Rs77.32 in comparison to closing rate on Saturday Rs76.71. Today 1 SAR to PKR conversion rate is PKR 77.32 in the open market as Saudi Riyal to PKR buying and selling rates are different in interbank and currency exchange or open market rates. Saudi Riyal to Pakistani Rupee has been increased by Rs0.61 in open bank trading.

It has been reported that Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in 2023-2024, the finance ministry said, against a backdrop of lower oil prices and the country's extended oil production cuts. The finance ministry said in a preliminary budget statement on Saturday that it expected a budget deficit of 2% of gross domestic product (GDP) this year rather than an earlier projected surplus, and a deficit of 1.9% of GDP in 2024.

 
Credit: Independent News Pakistan (INP)