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Saudi Arabian Riyal
(redirected from Saudi 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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Pegging the Saudi riyal to it benefits the kingdom until a major rival (currency) appears," Muhammad al-Jasser, the kingdom's central bank governor told Saudi-based Arabic daily, Alrroya Aleqtossadiya.
GIB's Saudi Riyal bond issue is the first bond issue by a financial institution in Saudi Arabia this year.
GIB's Saudi Riyal bond issue is the first bond issue by a financial institution in the Kingdom of Saudi Arabia in 2009.
 
 
 
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