Saudi Riyal
ريال سعودي
Currency Code
SAR
ISO 682
Symbol
SAR
Native: ر.س
Decimal Digits
2
Rounding: 0
Countries
SA
Using this currency
Currency Units
Major Unit
Name: riyal
Symbol: ر.س
Minor Unit
Name: halala
Symbol:
Value: 0.01
Banknotes
Frequently Used
ر.س1ر.س5ر.س10ر.س20ر.س50ر.س100ر.س200ر.س500
Coins
Frequently Used
5 halala10 halala25 halala50 halalaر.س1ر.س2
Plural Forms
English Plural
Saudi riyals
Native Plural
ريالات سعودية
Overview
The Saudi Riyal is the currency of Saudi Arabia, managed by the Saudi Arabian Monetary Authority (SAMA). It has been pegged to the US dollar since 1986 and serves one of the world's largest oil-based economies.
Economy
- Saudi Arabia is a member of GCC, Arab League, OIC, OPEC, G20.
- Main industries include: Crude oil production, Petroleum refining, Basic petrochemicals, Ammonia, Industrial gases, Sodium hydroxide, Cement, Fertilizer, Plastics, Metals, Commercial ship repair, Commercial aircraft repair, Construction.
- Saudi Arabia is part of the World Trade Organization.
- Imports are machinery, equipment, foodstuffs, chemicals, motor vehicles, textiles.
- Major exports include petroleum, petrochemicals, fertilizers, plastics, metals, cement, construction materials.
- GDP: $833.5 billion (2023 est.).
- GDP per capita: $23,566 (2023 est.).
- Unemployment rate: 4.8% (2023 est.).
- Inflation rate: 2.3% (2023 est.).
- Main trading partners: China, India, Japan, South Korea, United States, Singapore.
- Trade agreements: GCC Common Market, Various bilateral agreements.
History
- Previous currencies used: Various regional currencies, Turkish piastre, Indian rupee.
- The riyal was introduced in 1925, replacing various regional currencies. It has been the unified currency of Saudi Arabia since the country's formation and was pegged to the US dollar in 1986.
- 1925: Saudi riyal introduced
- 1952: Saudi Arabian Monetary Agency established
- 1959: Silver riyal replaced with paper currency
- 1986: Pegged to USD at 3.75:1
- 2016: Vision 2030 economic diversification plan launched
- 2020: VAT increased and economic reforms
- Exchange rate peg: USD (1986-present) at 3.75 SAR = 1 USD.
- Currently pegged to USD at 3.75 SAR = 1 USD.
General Information
- ISO 4217 Code: SAR
- Symbols: SAR/ر.س
- Currency Subunits: 100 halalas
- Central Bank: Saudi Arabian Monetary Authority (SAMA)
- Monetary Policy: Currency board system maintaining USD peg. Focus on price stability and supporting economic diversification away from oil dependence.
- Bills: 1 SAR, 5 SAR, 10 SAR, 20 SAR, 50 SAR, 100 SAR, 200 SAR, 500 SAR
- Coins: 5 halalas, 10 halalas, 25 halalas, 50 halalas, 1 riyal, 2 riyals
- USD Exchange Rate: 3.75
- Pegged To: USD at 3.75 SAR = 1 USD
- Capital: Riyadh
- Population: 35,950,396 (2023 est.)
- Area: 2,149,690 km²
- Languages: Arabic (official), English
- Time Zones: UTC+3 (Arabia Standard Time)
- Government Type: Absolute monarchy
- Head of Government: King (head of state and government)
- Independence: September 23, 1932 (unification of the Kingdom)
- Ethnic Groups: Arab 90%, Afro-Asian 10%
- Religions: Muslim 100% (85-90% Sunni, 10-15% Shia)
- Literacy Rate: 95% (2017 est.)
- Transport: King Fahd International Airport, modern highway system, high-speed rail (Haramain), major ports (Jeddah, Dammam)
- Communications: Advanced telecommunications, 98% internet penetration, comprehensive mobile coverage
- Energy: Oil 50%, Natural gas 50%, developing massive renewable energy projects
- Countries Using This Currency: Saudi Arabia
- Data Sources: Central Bank: Saudi Arabian Monetary Authority (sama.gov.sa), Economic Data: General Authority for Statistics, World Bank, IMF, Trade Data: Saudi Customs, Demographic Data: General Authority for Statistics, Geographic Data: National Center of Meteorology, Historical Data: Saudi Arabian Monetary Authority archives
- Last Updated: 2025