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The Saudi riyal (Arabic: ريال سعودي riyāl suʿūdiyy) is the currency of Saudi Arabia. It is abbreviated as ر.س SAR, or SR (Saudi Arabian Riyal/Saudi Riyal). It is subdivided into 100 halalas (Arabic: هللة Halalah). The currency is pegged to the US dollar at a constant rate of exchange. [2]
SAMA is the Central Bank of Saudi Arabia, the functions of the SAMA include issuing the national currency, the Saudi Riyal, supervising commercial banks, managing foreign exchange reserves, promoting price and exchange rate stability, and ensuring the growth and soundness of the financial system, operating a number of cross-bank electronic ...
Qatari riyal [16] QAR Qatar: ر.ق [17] Saudi riyal [18] SAR Saudi Arabia: SR [19] Yemeni rial [20] YER
The Saudi Payments Network (Arabic: الشبكة السعودية للمدفوعات) or mada [1] (Arabic: مدى, lit. 'Extend', formerly SPAN ) is the major payment system in Saudi Arabia .
Qatari riyal – Qatar; Saudi riyal – Saudi Arabia; Zanzibari riyal – Zanzibar; Roepiah – Dutch East Indies; Rouble (Рубль) Armenian rouble – Armenia;
Fixed currency Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin: U.S. dollar: 1.79
In December 2018, Saudi Arabia announced it would be issuing bonds worth approximately 120 billion riyals ($32 billion) to cover its 4.2% GDP deficit of 131 billion riyals. [54] In January 2019, the kingdom sold bonds worth $7.5 billion. [ 55 ]
After seeking advice and expert help from a number of friendly countries, primarily the US, the Saudi riyal was linked to the United States Dollar and apart from structural, regulatory, and procedural reforms within a revamped Ministry of Finance; a Central Bank under the name of the Saudi Arabian Monetary Agency (SAMA) was established during 1952.