Saudi Arabia - Country Commercial Guide
Foreign Exchange Controls

Includes how foreign exchange is managed and implications for U.S. business;

Last published date: 2019-10-13

Saudi Arabia imposes no foreign exchange restrictions on capital receipts or payments by residents or nonresidents, beyond a prohibition against transactions with Israel. Although officially linked to the IMF’s Special Drawing Rights, Saudi Arabia in practice pegs its currency, the Saudi riyal (SAR), to the U.S. dollar. Saudi Arabia set its official currency exchange rate at SAR 3.75 = USD1. Residents of Saudi Arabia may freely and without license buy, hold, sell, import, and export gold, except for gold of 14 karats or less.