How much does the dollar buy in Saudi riyals? The price of the dollar against the Saudi riyal in Al Rajhi Bank today

By learning the answer to the question: What is the purchase price of the dollar in Saudi riyals, we can point out that currency prices are considered a reflection of the economy of countries, as a country with a strong economy is considered one of the countries whose currency has a great value and controls other currencies, so we will learn about the value of the dollar. Against the Saudi riyal in banking transactions.

What is the purchase price of the dollar in Saudi riyals?

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According to what was announced by the Saudi Central Bank, the dollar can currently be purchased for 3.7500 Saudi riyals, as this is considered the official price for this process, with some minor differences according to the purchase process from different Saudi banks, and this is due to the commissions of the existing banks. on that process.

The price of the Saudi riyal against other currencies

We can learn about the price of the Saudi riyal against other currencies through the following table:

the currency

Price in Saudi Riyals

AED

1.0212

Bahraini dinar

9.9469

Kuwaiti Dinar

12.1418

Omani Riyal

9.7390

Qatari Ryal

1.0299

pound

4.7374

Swiss Franc

4.2985

euro

4.0633

JPY

0.0254

Chinese Yuan RMB

0.5251

Canadian Dollar

2.7743

Egyptian Pound

0.1214

Factors that affect currency prices

There are many factors that affect currency prices, and we can learn more about them through the following paragraphs:

1- The value of currency trade between the two countries

In the event that there is a country that imports a commodity from another country, we can say that the importing country will pay a value for the products. In that case, the exporting country will determine the required value, and then the demand for the currency paid increases, whether that is the US dollar or any currency. Other.

In that case, the paid currency will turn into a commodity whose value will increase according to the demand that will be needed in order to complete the payment process.

2- Supply and demand for currencies

This process is considered one of the major processes that is linked to many factors, but the global trade process is considered the largest. In fact, we find that currencies are in increasing demand for many purposes, such as students going out to study, or tourism or treatment in foreign countries.

All of these factors play a role in increasing the demand for a particular currency.

3- Interest rate and inflation

It can be said that these two factors are among the factors that help bring investors from their countries to foreign countries, as all of this is linked to interest rates on currencies in those countries, which helps investors achieve the greatest profitable returns, so all of this helps investors reach the country. Therefore, the demand for the currency varies.

4- Investor confidence in currencies

We can say that investor confidence makes the currency a commodity. As long as that commodity is good, we will find that demand for it will become intense, but if it is not good or suffers from problems, we will find that investors will flee from that currency, but whenever dealing with that currency A large currency will certainly reflect positively on the value of the currency and vice versa.

Knowing the value of currencies is an important matter for many people, as currencies are considered among the things that many people need, whether they are students, travelers, or investors. Currencies and their trading are also considered one of the most important means of investment for many people interested in this field.

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2023-12-07 21:25:01
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