NationMaster - Encyclopedia: Saudi riyal

The riyal (currency code SAR) is the official currency of Saudi Arabia, and is written ر.س or SR. Image File history File links Download high resolution version (876x1235, 240 KB) Summary Edited and collected from different images from SAMA website. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Monetary authority is a generic term in finance and economics for the entity which controls the money supply of a given currency, and has the right to set interest rates, and other parameters which control the cost and availability of money. ... Saudi Arabian Monetary Agency (SAMA), the central bank of the Kingdom of Saudi Arabia, was established in 1952. ...

History

The riyal has been the currency of Saudi Arabia since the country came in to being and was the currency of Hejaz before Saudi Arabia was created. The Hejaz riyal was initially equivalent to the Ottoman 20 qurush coin and was consequently divided into 20 qurush, each of 40 para. It has been suggested that this article or section be merged with Western Province (Saudi Arabia). ... Qirsh, Gersh and KuruÅŸ are all names for currency denominations in and around the territories formerly part of the Ottoman Empire. ...

However, the riyal was later set equal to the larger Maria Theresa thaler, worth 22 Ottoman qurush. Hence, the Saudi currency system was initially 22 qurush = 1 riyal. This remained the system of currency even though the riyal was subsequently debased. Maria Theresa thaler. ...

In 1960, the system was changed to 20 qurush = 1 riyal and this was followed in 1963 by the introduction of the hallalah, worth one hundredth of a riyal. Saudi coins still bear denominations in hallallah; Denominations in qurush are not commonly used in everyday life anymore.

Denominations

The Saudi Arabian Monetary Agency (SAMA) issues banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals and coins in denominations of 5, 10, 25, 50 and 100 hallalahs. The one-hallalah coin is discontinued. There are also 20 riyal and 200 riyal banknotes commemorating the centennial of the Kingdom. Saudi Arabian Monetary Agency (SAMA), the central bank of the Kingdom of Saudi Arabia, was established in 1952. ... The Kingdom of Saudi Arabia is a country on the Arabian Peninsula. ...

Fixed exchange rate

In June 1986, the riyal was officially pegged to the IMF's Special Drawing Rights (SDRs). In practice, it is fixed at 1 U.S. dollar = 3.75 riyals, which translates to approximately 1 riyal = 0.266667 dollar^[1] ^[2]. This rate was made official on January 1, 2003. The International Monetary Fund (IMF) is an international organization that oversees the global financial system by observing exchange rates and balance of payments, as well as offering financial and technical assistance when requested. ... Special Drawing Rights (SDRs) is a potential claim on the freely usable currencies of International Monetary Fund members. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...

Note: Rates obtained from these websites may contradict with pegged rate mentioned above

See also

The Cooperation Council for the Arab States of the Gulf (Arabic: Ù…Ø¬Ù„Ø³ Ø§Ù„ØªØ¹Ø§ÙˆÙ† Ù„Ø¯ÙˆÙ„ Ø§Ù„Ø®Ù„ÙŠØ¬), formerly named and still commonly called Gulf Cooperation Council (GCC) (Ù…Ø¬Ù„Ø³ Ø§Ù„ØªØ¹Ø§ÙˆÙ† Ø§Ù„Ø®Ù„ÙŠØ¬ÙŠ) is a regional organization involving the six Persian Gulf Arab States with many economic and social objectives in mind. ...

References

External links

Categories: Currencies of Asia and the Pacific | Circulating currencies | Economy of Saudi Arabia | Fixed exchange rate | Saudi Arabia stubs | Currency unit stubs World map showing the location of Asia. ... For other meanings of Pacific, see Pacific (disambiguation). ... The afghani is the official currency used in Afghanistan. ... ISO 4217 Code KZT User(s) Kazakhstan Inflation rate 7. ... ISO 4217 Code KGS User(s) Kyrgyzstan Inflation 5. ... The Tugrug (Ñ‚Ó©Ð³Ñ€Ó©Ðº in Mongolian) (MNT, Tugrik) is the official currency of Mongolia. ... ISO 4217 Code RUB User(s) Russia and self-proclaimed Abkhazia and South Ossetia Inflation 10. ... ISO 4217 Code TJS User(s) Tajikistan Inflation 8% Source The World Factbook, 2005 est. ... The manat is the currency unit of Turkmenistan. ... ISO 4217 Code UZS User(s) Uzbekistan Inflation rate 6. ... ISO 4217 Code CNY User(s) Mainland of the Peoples Republic of China Inflation 1. ... The Hong Kong dollar (currency code HKD) is the currency of the Hong Kong Special Administrative Region of the Peoples Republic of China, and has been the currency of Hong Kong since 1937. ... ISO 4217 Code JPY User(s) Japan Inflation -0. ... The pataca is the monetary unit of Macau (currency code MOP; Chinese: æ¾³é–€åœ“), made up of 100 avos. ... 5000 KPW issued in 2002 The won is the currency of North Korea. ... ISO 4217 Code KRW User(s) Republic of Korea Inflation 2. ... The New Taiwan Dollar (æ–°è‡ºå¹£ or æ–°å°å¹£; ISO 4217 code TWD; common abbreviation NT$), or simply Taiwan Dollar, is the currency of the Republic of China (Taiwan). ... ISO 4217 Code BND User(s) Brunei, Singapore Inflation 0. ... Riel (Khmer: , Symbol ) is the national currency of Cambodia. ... ISO 4217 Code IDR User(s) Indonesia Inflation 14. ... Kip is the currency of Laos. ... ISO 4217 Code MYR User(s) Malaysia Inflation 2. ... The kyat (ISO 4217 code MMK) is the official currency of Myanmar. ... ISO 4217 Code PHP User(s) Philippines Inflation 7. ... ISO 4217 Code SGD User(s) Singapore, Brunei Inflation 0. ... ISO 4217 Code THB User(s) Thailand Inflation 4. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Motto: Honra, PÃ¡tria e Povo(Portuguese) Honour, Homeland and People Anthem: PÃ¡tria Capital (and largest city) Dili Tetum, Portuguese1 Government Republic - President Xanana GusmÃ£o - Prime Minister JosÃ© Ramos Horta Independence from Portugal2 - Declared November 28, 1975 - Recognized May 20, 2002 Area - Total 14,609 kmÂ² (158th) 5... ISO 4217 Code VND User(s) Vietnam Subunit 1/10 hÃ o 1/100 xu Symbol â‚« Coins 200â‚«, 500â‚«, 1,000â‚«, 2,000â‚«, 5,000â‚« Banknotes 100â‚«, 200â‚«, 500â‚«, 1,000â‚«, 2,000â‚«, 5,000â‚«, 10,000â‚«, 20,000â‚«, 50,000â‚«, 100,000â‚«, 200,000â‚«, 500,000â‚« Central bank State... ISO 4217 Code BDT User(s) Bangladesh Inflation 7% Source The World Factbook, 2005 est. ... The ngultrum (BTN) is the currency of Bhutan, subdivided into 100 chertrums. ... ISO 4217 Code INR User(s) India Inflation 5. ... ISO 4217 Code MVR User(s) Maldives Inflation 6% Source The World Factbook, 2005 est. ... ISO 4217 code: NPR Symbol: â‚¨ 1/100th unit: paisa Introduced in: 1932 Exchange Rates May 2006 USD exchange: 73. ... The Pakistani rupee (PKR) is the currency of Pakistan. ... ISO 4217 Code LKR User(s) Sri Lanka Inflation rate 11. ... ISO 4217 Code AMD User(s) Armenia and the self proclaimed Nagorno Karabakh Republic Inflation -0. ... The manat (currency code: AZN) is the currency unit of Azerbaijan. ... ISO 4217 Code BHD User(s) Bahrain Inflation 2. ... ISO 4217 Code CYP User(s) Cyprus (except in the self-proclaimed Turkish Republic of Northern Cyprus), Akrotiri and Dhekelia Inflation 2. ... ISO 4217 Code EGP User(s) Egypt Inflation 4. ... Georgian 1 lari Georgian 2 lari Georgian 5 lari Georgian 10 lari Georgian 50 lari Georgian 100 lari The lari (Georgian: áƒšáƒáƒ áƒ˜ ; ISO 4217:GEL) is the national currency of Georgia. ... ISO 4217 Code IRR User(s) Iran Inflation 13. ... ISO 4217 Code IQD User(s) Iraq Inflation rate 33% Source The World Factbook, 2005 est. ... ISO 4217 Code ILS User(s) Israel, Palestinian Authority Inflation 1. ... The Jordanian dinar (ISO 4217 code JOD) is the official currency of the Hashemite Kingdom of Jordan and the first official one in the State of Palestine. ... ISO 4217 Code KWD User(s) Kuwait Inflation 3. ... ISO 4217 Code LBP User(s) Lebanon Inflation 2. ... ISO 4217 Code OMR User(s) Oman Inflation 1. ... ISO 4217 Code QAR User(s) Qatar Inflation 7. ... ISO 4217 Code SYP User(s) Syria Subunit 1/100 piastre Symbol SÂ£ [] Coins 1, 2, 5, 10, 25 pounds Banknotes 1, 5, 10, 25, 50, 100, 200, 500, 1000 pounds Central bank Central Bank of Syria Website www. ... TRY banknotes and coins The Turkish new lira is the current currency of Turkey and of the de facto state Turkish Republic of Northern Cyprus. ... ISO 4217 Code AED User(s) United Arab Emirates Inflation 4. ... 1000 Yemeni Rial The rial or riyal is the currency of Yemen. ... ISO 4217 Code AUD User(s) Australia, Kiribati, Nauru, Tuvalu, Christmas Island, Cocos (Keeling) Islands, and Norfolk Island Inflation 3. ... The CFP franc (in French: franc Pacifique or franc CFP ; CFP stood for Colonies françaises du Pacifique (i. ... The dollar has been the currency of the Cook Islands since 1967. ... ISO 4217 Code FJD User(s) Fiji Inflation 1. ... A New Zealand $100 polymer banknote, replacement of the old paper notes. ... Kina (currency code PGK) is the currency of Papua New Guinea. ... The tala is the currency of Samoa. ... The Solomon Islands Dollar was introduced in 1975 to replace the Australian Dollar after independence. ... The paanga (or Tongan dollar) is the currency of the Kingdom of Tonga. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... ISO 4217 code: VUV Symbol: none 1/100th unit: none Introduced in: ? Exchange Rates September 2005 USD exchange: 111 EUR exchange: 139 GBP exchange: 205 The vatu (ISO 4217: VUV, sometimes Vt) is the official currency of Vanuatu. ...

Contents