Currency exchange and transactions are easy in Saudi Arabia.
Saudi Arabia’s national currency is the Saudi riyal (symbol: SAR), which is subdivided into 100 halala.
You’ll receive notes in denominations of five riyals, ten riyals, 50 riyals, 100 riyals and 500 riyals; and coins in one riyal, two riyals, 50 halala, 25 halala, 10 halala, five halala and one halala.
All banks in the Kingdom offer currency exchange services. Exchange bureaus are located at airports, some shopping centers and various other locations in the country. The US dollar is equivalent to SAR3.75 (fixed rate). Credit cards, such as Visa, MasterCard and American Express are accepted throughout the Kingdom. ATMs are also widely available.
You can send or receive money in Saudi Arabia by transferring funds online, or through a bank that offers fast money transfer services, all of which are subject to the rules and regulations of the Saudi Arabian Monetary Authority (SAMA).
Saudi Arabia imposes an indirect tax of 5% (VAT) on all goods and services purchased and sold by enterprises. There are some exceptions.