100 Saudi Riyal

The Saudi Riyal is an important currency in the Middle East and has a lot of purchasing power. If you are looking to travel or do business in Saudi Arabia, it is essential that you know the basics of the Saudi Riyal. We hope that this article has given you a good introduction to the subject and that you will now be able to make informed decisions when dealing with Saudi Arabian currency.

The Saudi Riyal is the currency of Saudi Arabia. It is divided into 100 halala ( Arabic : حلّة ‎, romanized : ḥillah ; singular: halal ). The Saudi Riyal is also the currency used in the provinces of the Western Region of Saudi Arabia . The ISO 4217 code for the Saudi Riyal is SAR.

As of June 2016, the Saudi Riyal was the 19th most traded currency in the world with a daily trading volume of $26.4 billion.

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The Saudi Riyal

The Saudi Riyal is the currency of the Kingdom of Saudi Arabia. It is subdivided into 100 halalas. The Saudi riyal has been the currency of Saudi Arabia since the country came into existence and was pegged to the US Dollar in 1986.

The riyal is issued by the Saudi Arabian Monetary Agency on behalf of the King of Saudi Arabia. The name “riyal” comes from the Spanish word “real”, which was used in Spain during the Moorish period.

The Saudi Riyal is divided into 100 halalas. One halala is worth 1/100th of a riyal. The halala is not used for everyday transactions but it can be found in some prices, especially when dealing with very small amounts such as loose change.

The official exchange rate for the Saudi Riyal is set by the central bank, although it does float within a managed band against a basket of currencies. The monetary authority intervenes in the market to maintain stability and prevent sharp swings in the value of the riyal.

The different types of Saudi Riyal

The Saudi riyal has been the currency of Saudi Arabia since the country came into existence and was officially adopted as its currency in 1925. It is subdivided into 100 halalas. The Saudi riyal is also sometimes referred to as the “gulf rupee”.

There are four different types of Saudi Riyal banknotes:
1. One thousand riyals
2. Five hundred riyals
3. Hundred riyals
4. Fifty riyals
Saudi Riyal coins come in denominations of 1, 5, 10, 25, 50 and 100 halala.

Conclusion

The Saudi Riyal is an important currency in the Middle East and has a lot of purchasing power. If you are looking to travel or do business in Saudi Arabia, it is essential that you know the basics of the Saudi Riyal. We hope that this article has given you a good introduction to the subject and that you will now be able to make informed decisions when dealing with Saudi Arabian currency.