Currencies and Payments

Currencies and payments

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Currencies and payments

Currency exchange and transactions are easy in Saudi Arabia.

Currency

Currency

Saudi Arabia’s national currency is the Saudi riyal (ر.س 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.

Currency exchange

Currency exchange

All banks in the kingdom offer currency exchange services. Exchange bureaus are located at airports, some shopping centres and various other locations in the country. The US dollar is equivalent to SAR 3.75 (fixed rate). Credit cards, such as Visa, MasterCard and American Express are accepted throughout the kingdom. ATMs are also widely available.

Send and receive money

Send and receive money

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).
Taxes

Taxes

Saudi Arabia imposes an indirect tax of 5% (VAT) on all goods and services purchased and sold by enterprises. There are some exceptions.