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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One shopper told the GDN that when he tried to buy goods at a hypermarket with Saudi riyals on Saturday, he was informed that Saudi currency was not being accepted.
This Saudi Riyal bond issue reinforces GIB's pioneering role in the development of the region's capital markets.
We are earning around 500 million Saudi Riyal annually from Jeddah, Medina, Damam and Riaz stations through sale of tickets, he said.
Non-Saudi Umrah companies are charging pilgrims in Saudi riyals to avoid losses from decline in the value of other currencies.
This is a groundbreaking transaction, representing the bank's first bond issue in Saudi riyals," GIB chief executive officer Dr Yahya A Alyahya said.
A Saudi riyal in 1989 now values 57 halalas," the paper pointed out.
On 11/9/2011, NSCSA also signed a contract for a value of 230 million Saudi Riyal to provide transportation and logistics services to Ministry of Defense for three years duration.
Some consumers reported that they had been offered as little as 800fils for a 10 Saudi riyal note.
We used to use Saudi riyals in all our transactions in Bahrain without any need to exchange the currency.
Saudi Riyals (US$ 8,266) as far as JLLaACAOs calculations go, with rents in the popular Warooud, Malaz, Olaya and Sulaimania districts
Summary: Gulf International Bank (GIB) has announced its debut Saudi Riyal bond issuance through its Riyadh branch.
The Saudi Riyal has no legal right to circulate in Bahrain alongside the Bahrain dinar.

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