Forecasts for SAR to PKR
Recent forecasts for the Saudi Riyal (SAR) to Pakistani Rupee (PKR) exchange rate indicate a generally stable outlook, with the SAR trading at 14-day highs near 75.17 PKR, which is approximately 0.7% above its three-month average of 74.68 PKR. This range suggests a relatively stable period, with trading occurring within a tight band of 73.94 to 75.43 PKR over the last few months. Analysts have noted that these fluctuations are within a manageable 2.0% range, a sign of a consistent demand for the Saudi Riyal amidst ongoing economic factors.
The SAR's peg to the U.S. dollar, fixed at 3.75 riyals per dollar, lends an additional layer of stability, particularly as the U.S. dollar has shown resilience against other currencies. This pegging mechanism helps mitigate significant volatility, allowing businesses and individuals who engage in foreign exchanges to better anticipate costs related to international transactions.
On the other side, the PKR faces challenges due to external trade dynamics. The imposition of a 29% reciprocal tariff by the U.S. government on goods from Pakistan is significant, affecting export-driven growth and potentially leading to increased pressure on the PKR as economic conditions remain under scrutiny. Additionally, the surge in remittances from Pakistani migrant workers amid a struggling job market in the Middle East has been a critical lifeline for the economy. However, experts suggest that many of these workers are sending money home in anticipation of their return, rather than as a sign of economic recovery.
Overall, while the SAR to PKR exchange rate remains stable in the near term, analysts recommend monitoring external economic factors closely, as ongoing trade tensions and labor market conditions could influence currency movements moving forward.
