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A free market currency exchange was established. Official exchange rate was 3.75 riyals per U.S. dollar. A royal decree on 23 January 1959 briefly abolished the free market currency exchange. 8 January 1960 – 14 March 1975: Fixed exchange rate with USD: On 23 August 1971, the riyal was devalued by a sixth so that 4.50 SAR = 1 USD.
Saudi Arabia Turkmenistan United Arab Emirates Cabo Verde Comoros Denmark São Tomé and Príncipe ; WAEMU Benin Burkina Faso Côte d'Ivoire Guinea-Bissau Mali Niger Senegal Togo ; CEMAC Cameroon Central African Republic Chad
The Pakistani rupee (ISO code: PKR) is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan . It was officially adopted by the Government of Pakistan in 1949.
LONDON (Reuters) -Saudi Arabia has joined a China-dominated central bank digital currency cross-border trial, in what could be another step towards less of the world's oil trade being done in U.S ...
Jubail comprises the Old Town of Al Jubail (Jubail Balad), which was a small fishing village until 1975, and the Industrial Area. Jubail Industrial City is the largest civil engineering project in the world today. In 1975, the Saudi government designated Jubail as the site for new industrial city, with rapid expansion and industrialization ...
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...
This article includes a list of the main Saudi cities sorted by their Gross Domestic Product per capita, [1] the list includes 5 cities, Riyadh, Jeddah, Khobar, Dhahran and Dammam. The currency is sorted by the Saudi Riyal, which can also be worked out in the US Dollar. [2] Currently Dhahran is within the highest GDP per capita in the Middle ...
As of 2024, Saudi Arabia's GDP per capita has surpassed all other GCC countries except Qatar and the United Arab Emirates. Saudi Arabia's GDP per capita is estimated to be approximately $33,040 in nominal terms, ranking it 35th globally, and $70,333 in purchasing power parity (PPP) terms, ranking it as the 15th highest in the world [[18]]