
Saudi Arabian Riyal
SAR
- Convertible: Yes
- Transferable: Yes
- Exchange rate regime: Pegged to USD, with a target level of 3.75 SAR per USD
Available Currency Pairs

EURSAR
View EUR
USDSAR
View USD
GBPSAR
View GBP
SARJPY
View JPY
AUDSAR
View AUD
NZDSAR
View NZD
SARDKK
View DKK
SARSEK
View SEK
SARNOK
View NOK
CADSAR
View CAD
SARPLN
View PLN
SARCZK
View CZK
SARHUF
View HUF
SARRUB
View RUB
SGDSAR
View SGD
SARHKD
View HKD
SARTHB
View THB
SARCNH
View CNH/CNY
AEDSAR
View AED
BGNSAR
View BGN
SARHRK
View HKD
CHFSAR
View CHF
ILSSAR
View ILS
SARMXN
View MXN
RONSAR
View RON
SARTRY
View TRY
SARXAF
View XAF
SARXOF
View XOF
SARZAR
View ZARDid You Know?
Monetary Policy
The monetary policy and exchange rate for the Saudi Arabian riyal are managed by SAMA – the Saudi Arabian Monetary Authority. The exchange rate and monetary policy closely follow those of USD. Until 2003, SAR was pegged to special drawing rights (SDRs – the currency basket used by the IMF). The peg was subsequently changed to USD, and this remains the case.
Features and Highlights
The liquidity in SAR spots and forwards is reasonably good.In general, forward prices in the currency also reflect the USD peg. EUR/SAR forwards therefore show similar movements to EUR/USD forwards. However, this can deviate at times when markets anticipate a possible change in exchange rate regime. Whenever such fears arise, liquidity also becomes scarce.
Expert Opinion
As USD/SAR is pegged at 3.75, the evolution of EUR/SAR is completely correlated with that of EUR/USD. Sometimes, due to unusual events, we see that USD/SAR fluctuates slightly away from the target rate, but those movements are very short-lived and are generally not significant. Therefore, the FX risk for European companies trading in SAR can be considered similar to the risk when trading in USD.Saudi Arabia and other Gulf countries (the seven members of the Cooperation Council for the Arab States of the Gulf, otherwise colloquially known as the Gulf Cooperation Council or GCC) have long been considering the introduction of a common currency, but this has never come to fruition.
Regulations
In general, there are no special restrictions on the purchase and sale of SAR.
Keep In Mind
Useful Links

Currency Reference Guide
Get the full currency reference guide, updated by the iBanFirst currency market experts
Reference guide