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Currency Profile
The Saudi Riyal (SAR) has been the official currency of Saudi Arabia since the country came into existence in 1932.
The currency is subdivided into 100 halalas and is issued by the Saudi Arabian Monetary Agency.
The Riyal was first introduced into circulation in 1925 in Hejaz and Nejd (the predecessor states to Saudi Arabia). The currency was initially pegged to the Pound Sterling but this was abandoned in 1945.
The currency remained pegged to the USD until 1962 when it was floated on a free market basis. However, due to political and economic turmoil in the country, it was pegged back to the USD in 1986.
The Saudi Riyal has been pegged to the US Dollar since 1986 at a rate of 3.75 SAR to 1 USD.
The currency is widely accepted across the Gulf States and is also legal tender in Yemen and widely used in Qatar.
The currency has been relatively stable since then with only a few minor fluctuations. In recent years, the Saudi Riyal has been one of the strongest currencies in the region.
The Saudi Riyal is not currently available to be converted online, you'll need to call the team when you want to make a conversion
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