If you’ve earned 1 lakh Saudi Riyals (SAR) in Saudi Arabia, you might be wondering how much that translates to in Indian Rupees (INR). The answer may surprise you, as exchange rates fluctuate, impacting the actual amount you’ll receive in India.
Understanding currency exchange rates is crucial for anyone working abroad and sending money home. In this article, we’ll break down how much 1 lakh SAR is worth in India, how to maximize your remittance, and what factors influence currency conversion rates.
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How Much is 1 Lakh Saudi Riyal in Indian Rupees?
As of March 9, 2025, the exchange rate is approximately 1 SAR = 23.24 INR. This means that 100,000 SAR converts to about 23,24,110 INR.
However, exchange rates fluctuate daily based on market demand, inflation, and international trade conditions. Before converting your money, it’s best to check live rates on platforms like Google Currency Converter, Wise, XE, or your bank’s website.
Understanding Exchange Rates and Their Impact
1. What Affects Exchange Rates?
Several factors influence the SAR to INR exchange rate, including:
- Supply and demand – If many people are buying INR with SAR, the rate increases.
- Inflation rates – Countries with lower inflation typically have stronger currencies.
- Interest rates – Higher interest rates attract foreign investment, strengthening the currency.
- Geopolitical events – Political stability increases currency confidence.
- Government Policies – Economic reforms and regulations can impact currency strength.
2. Historical Trends of SAR to INR
Over the years, the Saudi Riyal to INR rate has seen fluctuations:
- 2015: 1 SAR = 17.50 INR
- 2018: 1 SAR = 18.50 INR
- 2021: 1 SAR = 20.25 INR
- 2023: 1 SAR = 22.80 INR
- 2025: 1 SAR = 23.24 INR (March data)
This shows that the Indian Rupee has depreciated against the Saudi Riyal, meaning NRIs now get more INR for every SAR they send home.
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Best Ways to Send Money from Saudi Arabia to India
If you’re transferring money from Saudi Arabia to India, here are the most efficient methods:
1. Online Money Transfer Services
- Wise (formerly TransferWise) – Low fees, real exchange rate.
- Western Union – Fast transfer, available in multiple locations.
- PayPal/Xoom – Convenient but slightly higher fees.
- Remitly – Provides competitive rates and fast transfers.
2. Bank Wire Transfers
- Major Banks like Al Rajhi Bank, Riyad Bank, and NCB (Saudi National Bank) offer direct remittance services to Indian banks.
- Processing Time: Typically 1-3 business days.
- Exchange Rates: Bank rates may include hidden fees, so compare before sending.
3. Forex Brokers & Exchanges
- Good for bulk transfers as they offer better rates than banks.
- Requires verification and documentation.
- Ideal for high-value transactions to optimize currency conversion.
Taxation on Foreign Remittances in India
If you’re sending money to India, keep tax rules in mind:
- Tax Collected at Source (TCS): 5% TCS on foreign remittances above Rs 7 lakh per financial year.
- Refundable in ITR: If the TCS is deducted, it can be adjusted in your Income Tax Return (ITR).
- Gifts from NRIs to family: Tax-free if sent to close family members like parents, spouse, or children.
- Documentation Required: PAN details and proof of relationship if applicable.
How to Get the Best Exchange Rate for Your Money?
Here are some practical tips to maximize your remittance value:
- Compare Exchange Rates – Use online tools like Google, Wise, XE, or bank websites.
- Avoid Weekends & Holidays – Banks often have lower rates on non-business days.
- Use Online Transfer Services – Digital platforms often provide better rates than banks.
- Monitor Rate Trends – If rates are low, wait for an upswing before transferring.
- Negotiate with Forex Dealers – If you’re exchanging large amounts, ask for a better rate.
- Transfer Larger Amounts Less Frequently – Reduces transaction fees and improves rates.
(FAQs)
1. How much will I get in India if I send 1 lakh SAR today?
The exchange rate (as of March 2025) is 1 SAR = 23.24 INR, so you will get around 23.24 lakh INR. However, this may change daily.
2. Is there any tax on sending money from Saudi Arabia to India?
There is no tax in Saudi Arabia, but India charges 5% TCS on remittances above Rs 7 lakh per year. This can be refunded in your Income Tax Return (ITR).
3. What is the cheapest way to transfer money from Saudi Arabia to India?
The most cost-effective methods include Wise, Western Union, or direct bank transfers via Al Rajhi Bank or NCB.
4. Can I send money to my family without tax in India?
Yes, money sent to immediate family members (parents, spouse, children) is tax-free.
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