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SAUDI ARABIA (SAR) ARABIAN RIYAL
The Arabian Riyal is the currency of Saudi Arabia and is represented by the
international currency code SAR. A Saudi riyal is divided into 100 halala and
marked by the symbol ‘SR’.
Currently in circulation
Coins which are currently legal tender are in the denominations of 5, 10, 25, 50
and 100 halala. Banknotes are in the denominations of 1, 5, 10, 20, 50, 100 and
500 riyal.
Exchange facilities and traveller’s cheques
Foreign currency can be exchanged in banks and bureaux de change. Banks are
generally open from Saturday to Wednesday. Traveller’s cheques are also easily
accepted though hard to change. It is best to carry traveller’s cheques in US
dollars, Saudi riyal, Euros or Sterling in order to avoid the exchange fee.
Using credit/debit cards
All major credit cards are accepted at hotels, shops and restaurants throughout
Saudi Arabia. ATM’s are also widely available across the country including those
inside and outside banks, shopping malls, supermarkets and hypermarkets. There
is a limit on the amount that you can withdraw in a day, which is generally $450
to $700.
Restrictions
The import and export of local currency is limited to 100,000 riyals while there
are no restrictions to the import and export of foreign currency except for the
Israeli sheqel which is prohibited from being brought in or taken out of the
country.
Saudi Arabia: An overview
Saudi Arabia occupies 80% of the Arabian peninsula and shares its borders with a
number of countries. These are Jordan, Kuwait, Iraq, Oman, Qatar, United Arab
Emirates, Yemen. It is renowned for its holiest Islamic cities, Mecca and
Medina, which are reputed to be the greatest pilgrimage sites for Muslims. Saudi
Arabia has the largest continuous desert in the world. It is also the world’s
leading petroleum exporter with petrol being the main source of income that
fuels the economy.
The cost of living in Saudi Arabia is as much as it is in the European
countries. A three star accommodation would cost you SAR150/$40/£28/Є30. A
three-course dinner at a restaurant would cost about SAR50/$13/£9/Є10. Alcohol
is strictly prohibited in Saudi Arabia and so you will not find any in the
markets.
