Saudi Arabian Riyal


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Saudi Arabian Riyal

The currency of Saudi Arabia. It became the official currency of the Kingdom at its establishment in 1932; it is the successor currency to 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.
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First there was the Indian Rupee, then the Saudi Arabian Riyal, which was used for less than a year.
Meanwhile, the ongoing flow of Initial Public Offerings (IPOs) on the Tadawul Stock Exchange in Riyadh in 2009--including the April IPOs of insurers Al Rajhi, Weqaya, ACE Arabia, and AXA Cooperative to raise a cumulative Saudi Arabian riyal 260 million (approximately $69 million) of new capital--indicate that Saudi investors still have considerable liquid assets with which to support attractive business propositions.
The main gain, close to 900 billion Saudi Arabian Riyals, will come from indirect contributions mainly from wholesale, retail and manufacturing.
I had 3,500 Saudi Arabian riyals (930 dollars, 690 euros).
AI claim al-Fakki was entrapped by a member of the Saudi religious police claiming that he would pay 6,000 Saudi Arabian riyals (US$1,600) for a spell which would make his father divorce his second wife and return to the agente provacateur's biological mother.

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