The SAR to PKR exchange rate is currently range-bound.
Key drivers include the fixed nature of the Saudi riyal to the U.S. dollar at 3.75, providing stability for the riyal. Meanwhile, the Pakistani rupee has shown consistent appreciation against the U.S. dollar recently, but is projected to gradually depreciate due to anticipated current account pressures, as noted by Fitch Ratings. Additionally, economic improvements, such as the privatization of Pakistan International Airlines, may positively influence the PKR.
In the near term, SAR to PKR is expected to remain stable within its recent trading range. Analysts suggest this range is influenced heavily by the riyal's peg and the PKR’s gradual depreciation forecast.
Potential changes could arise from a significant global shift in oil prices, which would affect regional economies, or unexpected political developments in Pakistan, which may disrupt the current trend of PKR appreciation.