Saudi Arabia is one of the driest countries in the world. It has
deserts, semi-deserts, plateaus and mountains. The economy of this
traditional, conservative Muslim country consists of oil. In fact, the
country of Saudi Arabia produces and exports the more oil than anyone
in the world does.
The currency of Saudi Arabia is the riyal. It
trades under the initials SAR. The decimal rate of the currency is 100
halalahs equal one riyal.
History
This ancient Gulf State did not have its own currency until A.D. 723. Prior to this, all coinage came as imports from Egypt, Iran, Iraq, Israel, Jordan and Yemen. The money usually arrived with the tourists heading for Mecca. An official coinage came with Umayyad caliph Yazid II and successive governing bodies. In al-Hassid, local lead and copper coins also began to circulate.
In 968 Ikishidid governors of Egypt minted coins in Mecca. Mecca became the minting site for coins to remain in or out of the country. Yet, the next major development in currency in Saudi Arabia did not occur until under the Ottomans. Before then, the various different Sharifs of Mecca as well as the Fatimids of Egypt, the Qarmatids of Bahrain, the Mamluks of Egypt and even the interests of Iran and Iraq, had little do with issuing coinage in Saudi Arabia. The Ottomans, however, released copper and silver coins with simple designs of fish and birds
Still, no substantial coinage was common in the country until after WWI. In WWI, countermarking of Turkish coins and Austrian thalers became the norm. The King of Hejaz began to issue ghirsh (piastres) between 1919 and 1921.This coinage continued after Abd al-‘Aziz ibn Sa’ud united the Hejaz and the Nejd sectors of the country. Inscriptional ghirsh coins featured the emblem of a palm tree and crossed swords came into circulation in 1926. Some of the coins in this new realm were minted in Mecca, others in the British Royal Mint, the United States mint or the Bombay mint. Some banknotes emerged in 1953 under the Saudi Arabia Monetary Agency. These Haj Pilgrim Receipts were a special issue.
Money began to be of greater significance during the 1950s and 1960s as the country increasingly became embroiled in the exporting of oil. Much of the Kingdom of Saudi Arabia grew in influence and importance under the charismatic and powerful ruler, King Faisal.
By 1972, Saudia Arabia began to issue coins in the name of the king of the country – King Faisal. The design remained the same as the earlier coinage, a palm tree and crossed swords. Today, you can obtain currency in banknotes and coins. The bank notes have inscriptions in both English and Arabic. They come in denominations of 1, 5, 10, 50, 100 and 500 riyals. There are also coins in denominations of 5, 10, 25, 50 and 100 halalahs.
Obtaining Saudi Arabia Riyals
You may have some trouble obtaining local currency if you use travelers’ checks. If you have cash or deal directly with a major bank, you can easily access the currency of Saudi Arabia. There are money exchangers and ATMs in the country. You can find many of them in the malls that are springing up all over the country. You can locate ATMs in small towns and larger cities. Rates seem to differ only slightly between moneychangers and banks.
Protecting Your Currency
Crime is not a serious problem in Saudi Arabia. In crowded areas or Holy sites, there are instances of petty crime, such as pick-pocketing and purse snatching. Adhere to the usual precautions.
Using Your Saudi Arabia Riyals
You can use your riyals for all the usual purchases. You might want to consider heading off to a Gold Souk or buying carpet. You need to sample nad bring home Arabic Coffee and perfume from Arabia. There are also sheesha (Bubbly Hubbly) pipes.
Travel Tips and Warnings
- This country is not the best place for single women to visit. There are many restrictions on their behavior. These include the ban against driving or riding a bicycle. Women cannot mingle with anyone of relatives in public. If one doses, the law can lay a charge of prostitution against her. Women also have to cover their entire body. Do not expose your head or other body parts. Men also have restrictions in attire. If visiting Saudi Arabia, you must not wear shorts.
- Some places, such as restaurants, are divided into male and family sections. Women must eat in the family section.
- Be aware of special type of enforcement officers – the Religious Police or Matawa. They may actually harass you if they believe you are not following the accepted and very strict practices.
- Driving in Saudi Arabia is like playing Russian Roulette.
- Visit the mountain city of Abha and nearby Asir National Park
- Go to visit the National Museum in Riyadh containing the King Abdul Aziz Historical Complex.
- Riyadh is also home to the Masmak Fortress and the Murabba Palace.
- Go the Regional Museum of Archeology and Ethnography at Jeddah.
- See the rock tombs at Medain Salah.
- Visit the oasis town of Najaran or set sail for the Farasan Islands.
- Stop in Hofuf to wander the halls of the Hofuf Museum.
- Head to Half Moon Beach.
Overview
Saudi Arabia is a traditional, conservative country under a monarch. Islam is the official religion. It regulates all areas of daily life. An oil-rich country, Saudi Arabia continued to become modern in all but its social practices.
Currency Summary
Current currency: riyals
100 halalahs equal one riyal
Coins: 5, 10, 25, 50 and 100 halalahs
Banknotes: 1, 5, 10, 50, 100 and 500 riyals