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LOCAL CURRENCY IN SAUDI ARABIA

Need to know how much is your money worth in Saudi Arabia? The money used in Saudi Arabia is called Riyal.

The Saudi Riyal is issued and managed by the Saudi Arabian Monetary Agency. To find out the current currency exchange rates for Riyal to other major currencies of the world, click on foreign currency rates.

Saudi Currency Information
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The currency used in Saudi Arabia is called as the Riyal. This currency is denoted with the currency sign .? (Arabic), SR (Latin), ? (Unicode) and the ISO 4217 Code for the Saudi Riyal is SAR. The Riyal, is the official currency of the Saudi Arabia . It is divided into 100 smaller units called Halala.

The constitution of Saudi Arabia provides that the Saudi Arabia government shall have the power to print the Saudi Riyal and Halala coins to be used as a legal tender in Saudi Arabia. The Saudi Riyal bank notes and Halala coins are both designated as "legal tender" in payment of debts.

The Saudi Riyal bill uses the decimal system, consisting of 100 equal units.

The symbol .? (Arabic), SR (Latin), ? (Unicode), usually written before the numerical amount, is used for the Saudi Riyal.

Currently printed bank notes denominations are 1, 5, 10, 20, 50, 100, 200, 500 riyal and the coins are minted in the denominations of 5, 10, 25, 50, 100 halala .

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The Effect of Balance of Trade and Investment on Saudi Riyal
Financial analysts regularly cite the balance of trade and investment in Saudi Arabia as the most important influence on the value of the Riyal. The difference between what the Saudi Arabia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Riyal exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Riyal exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Saudi Riyal.
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