Riyal


Also found in: Dictionary, Thesaurus, Wikipedia.

Riyal

1. The currency of Qatar. Since 1980, the riyal has been pegged to the U.S. dollar at a rate of 1 USD to 3.64 QAR. This exchange rate is important especially to energy deals as Qatar is rich in natural gas and, to a slightly lesser extent, oil.

2. The currency of Saudi Arabia. It became the official currency of the Kingdom at its establishment in 1932; it is the successor currency of the Hejaz riyal. Between 1986 and 2003, the riyal was pegged to Special Drawing Rights, but, in practice, this was effectively a peg to the U.S. dollar. The peg was officially changed to the dollar in 2003 and has been in effect since (with the exception of a brief period in 2007). It is issued by the Saudi Arabian Monetary Agency.
References in periodicals archive ?
This year, many agencies decided to get paid in Saudi riyals.
3 percent and this means a Saudi riyal in 2000 now values 65 halalas, reducing its power to purchase goods and services.
Some consumers reported that they had been offered as little as 800fils for a 10 Saudi riyal note.
P asks three questions about Saudi Riyals (GDN, October 28):
Revenue declined 40 per cent to 910 million riyals.
Qatar's Central Bank said on Thursday it would issue 1 billion Qatari riyals ($300 million) worth of sukuk and 3 billion riyals worth of bonds next week.
35 billion riyal bridge loan from local banks and said it would finance it through the 5 billion riyal syndicated loan.
Mobily, an affiliate of the United Arab Emirates' Etisalat, made a net loss of 158mn riyals ($42.
A Barbary sheep now costs 450 riyals, an Australian sheep costs 550 riyals and an Assouakni sheep costs 700 riyals.
424 billion riyals, an increase of 756 million riyals.
The total foreign assets of the banks reached 1 trillion, 382 billion and 700 million riyals by the end of July 2009 up from 336 billion and 200 million riyals in the previous month, up by 46 billion and 500 million with growth rate of 13.
771 billion riyals in the three months ending June 30, 2009 against SR 1.