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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I was informed by my staff about the circulation of fake Saudi riyals in the market," he said.
The Saudi riyal is pegged to the dollar, so forward contracts are often used as a proxy for trading the region.
MANAMA: GIB Capital, acting as joint lead manager and joint book runner with Riyad Capital, has successfully closed Ajil Financial Services company's privately placed 500 million Saudi riyals ($133.
We are also pleased that GIB's subsidiary in KSA, GIB Financial Services, has played an important role in this bond issue, which will be a platform for the company to work towards the development of Saudi Riyal debt capital market issues for other issuers in Saudi Arabia," he added.
For the year ended December 31, 2004, ARTC generated more than 111,750,000 Saudi Riyal (approximately $29 million USD).
The customs authorities took the Saudi Riyal into their possession and after arresting the accused registered currency smuggling case against him.
The facilities are divided into USD and Saudi Riyal (SAR) tranches broken down as follows: $7 billion, of which $6 billion is a 5-year facility with two 1-year extension options (5+1+1) and USD 1 billion is an annually-renewable 364-day facility.
Its charter is to act as the central government bank, issue currency (paper and coin), support the value of the Saudi Riyal at home and abroad, and supervise and encourage the development of the Kingdom's banking system in both the public and the commercial sectors.
Revenues and approved expenditures of Princess Norah bint Abdulrahman University are estimated at SR2,685,780,000 (Two billion six hundred eighty five million and seven hundred eighty thousand Saudi Riyal.
MANAMA: Gulf International Bank (GIB) yesterday announced its debut Saudi riyal bond issuance through its Riyadh branch.
He also disclosed that nearly %59 of the operating plants in the Kingdom are located in industrial cities supervised by Modon, drawing the attention that each Saudi Riyal being invested in developing industrial cities returns nearly 50 folds and that each one billion Saudi Riyal invested by Modon in infrastructure projects has pumped more than 8700 jobs for Saudi nationals.
Interestingly, many Nigerian and Senegalese pilgrims have been found to be carrying Saudi riyal checks rather than currency.

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