If you’re waiting for the perfect second to send money back to Lahore or Karachi, the riyal currency rate in Pakistan is probably the only number you care about right now. It fluctuates. It’s annoying. One morning you’re looking at a decent conversion, and by lunch, the interbank shift has shaved off enough to buy a few dozen rotis.
As of January 16, 2026, the Saudi Riyal (SAR) is sitting around 74.64 PKR in the interbank market. If you’re heading to a local exchange booth in Saddar or Gulberg, the open market rate is naturally a bit higher, typically hovering between 75.60 PKR and 75.90 PKR.
The Real Numbers Today
The gap between the interbank and open market has narrowed significantly over the last year. Honestly, that’s good news. It means fewer people are getting fleeced by "gray market" rates. The State Bank of Pakistan (SBP) has been riding the exchange companies pretty hard to keep things transparent.
Here is what the ground reality looks like today:
👉 See also: Arbor Realty Trust Stock Price: What Most People Get Wrong
- Interbank Rate: ~74.64 PKR
- Open Market (Buying): ~75.60 PKR
- Open Market (Selling): ~75.90 PKR
Remember that these aren't just static numbers on a screen. They represent the lifeblood of millions of Pakistani families. Saudi Arabia remains the undisputed king of remittances for Pakistan. In December 2025 alone, workers in the Kingdom sent back over $813 million. That’s a massive chunk of the record $3.6 billion that flowed into the country that month.
Why the Rate Keeps Moving
You've probably noticed that when the US Dollar breathes, the Riyal catches a cold. Since the Saudi Riyal is pegged to the USD at a fixed rate of 3.75 SAR per 1 USD, any drama involving the dollar in Pakistan immediately hits the SAR to PKR conversion.
It’s a bit of a domino effect.
If the PKR weakens against the greenback, your Riyals suddenly buy more rupees. Recently, the rupee has been surprisingly resilient. The SBP's foreign exchange reserves hit $16.05 billion this month, which acts as a shield against sudden currency crashes. When the central bank has "muscles" (reserves), the rupee doesn't get pushed around as easily.
📖 Related: Alex Hormozi Value Equation Explained (Simply)
The Remittance Factor
There’s also a seasonal rhythm to this. We are seeing a huge surge in manpower exports. In 2025, over 762,000 Pakistanis moved abroad for work, with the majority landing in Saudi Arabia. More workers mean more demand for conversion.
Expert analysts, like Sana Tawfik from Arif Habib Limited, have noted that the higher use of formal banking channels—rather than the old hundi or hawala systems—is stabilizing the official riyal currency rate in Pakistan. People are finally trusting the banks again because the rate difference isn't as punishing as it used to be.
Open Market vs. Interbank: Which Should You Care About?
Most people get confused here. If you’re a business owner importing tiles or dates from Saudi, you’re looking at the interbank rate. If you’re a laborer sending money to your mother via Western Union or Ravi Exchange, you’re dealing with the open market or "remittance rate."
- Interbank: This is the "wholesale" price banks use to trade with each other.
- Open Market: This is the "retail" price you get at the counter.
Usually, there’s a spread of about 0.5% to 1.5%. If you see a gap wider than 2 or 3 rupees, something is usually wrong in the market—either a shortage of physical cash or some wild speculation happening behind the scenes. Right now, the market is "boringly stable," which is actually a relief for anyone trying to plan a budget.
✨ Don't miss: Mizzou Salary Report 2025 Explained (Simply)
What to Expect for the Rest of 2026
Predictions in Pakistan are a dangerous game, but the data points toward a "managed" stability. The government has set a target of $41 billion in total remittances for the fiscal year 2026. To hit that, they need the exchange rate to remain attractive but not volatile.
We also have the "Eid Effect" coming up soon. Traditionally, the riyal currency rate in Pakistan sees a spike in volume—and sometimes a slight rate adjustment—as millions of expats send extra cash home for Zakat and celebrations.
Actionable Advice for Sending Money
Don't just walk into the first exchange shop you see.
- Check the SBP Weighted Average: Before you head out, check the State Bank’s daily revaluation rate. If the shop is offering significantly less, walk away.
- Use Digital Apps: Apps like ACE Money Transfer or Western Union often give better promotional rates for first-time users than physical booths in Riyadh or Jeddah.
- Watch the Reserves: If you hear news that Pakistan's foreign reserves are dropping, the rupee will likely weaken. That might be the time to hold your Riyals for a few days to get a better rate.
- Avoid the Weekends: Rates can "freeze" at a higher margin on Friday evenings and Saturdays when the formal markets are closed. If it’s not an emergency, Tuesday or Wednesday is usually the sweet spot for a fair rate.
The current stability is a breath of fresh air compared to the chaos of 2023 and 2024. While we won't see the Riyal dropping back to 50 PKR anytime soon (let's be real), the current 74-75 range seems to be the new normal for the foreseeable future.
Monitor the interbank movements daily and try to time your transfers during mid-week sessions to avoid the "weekend spread" usually charged by retail exchange houses. Always insist on a formal receipt to ensure your money is tracked through the legal SBP-monitored channels, which ultimately helps keep the national economy—and your exchange rate—from crashing.