Indians working in Saudi Arabia often check the rates of the Saudi Riyal Vs INR. This is because it helps to send money back home to India at the best possible price. Over the last few years, we have seen an increasing trend of prices of the Indian rupee losing ground against the Saudi riyal.
This is good news for investors as they get more money for a certain number of Saudi Riyals. Those wishing to change their currency should always check the latest currency rates. This is not only true for the Saudi Riyal, but, also for a host of other currencies. There is a high possibility that we may see the Riyal pegged at around the same levels in the coming days.
How the SAR has moved against the INR?
The Saudi Arabia currency in Indian rupees largely depends on how trading takes place in the inter bank foreign exchange market in India. For example, if the rupee falls against the dollar you would get higher rate for the SAR against INR.
This is because the SAR is pegged against the dollar and does not change in value. Over the ast decade or so, we have seen Indians working in Saudi Arabia get more for the rupee vs the Saudi Riyal. In fact, at one stage we would get INR 12 for one Saudi Riyal, but, the same has now moved higher and has crossed the Rs 16 levels.
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