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Buy, Sell or Transfer Saudi Rial (SAR) in India at the best exchange rates
| Currency Name | Buy Rate (Card Rate) | Sell Rate |
|---|---|---|
| View Detailed Rate card | ||
When it comes to the economy and global position, Saudi Arabia enjoys quite a good position. The same helps its currency to be strong and popular. The official currency of the region is called Saudi Arabian Riyal and has maintained its position since 1953. Not just Saudi Arabia but some of the neighbouring countries also use this currency to facilitate trade and develop friendly relations. The country's global position stands to be on the top in the Middle East, thanks to oil reserves, the petroleum industry, and other related businesses which keep the currency value high and stable.
Being the country's official currency, its flow is institutionalized by the region's central bank. The first of these coins was introduced in 1935, and currency notes came into circulation in 1953 as receipts for Haj pilgrims. However, the note's usage as Haj receipts were cancelled, and it started ruling big transactions. Although individuals, in the beginning, were sceptical of the currency's usage and future, it made a mark and managed to remain in the market. Its current value is pegged against USD at a rate of 3.75 SAR/USD. The pegging was done back in 2003.
The exchange rate refers to the rate at which one currency is exchanged for another. The currency exchange rate for SAR to INR keeps fluctuating around INR 21. As of now, INR 21.82 makes 1 SAR. Several factors are responsible for this fluctuating rate. At the top stands the oil prices since the economy of Saudi is highly dependent on oil and natural gas export. Some of these include the specific region's policies and growth patterns, inflation, international status and market position, trade balance, capital flow, cash reserve ratio, and much more. Lower levels of inflation enhance the currency value and its appreciation makes it an attractive option to foreign countries and vice versa. Similarly, offering higher interest rates to countries also facilitates exchange.
With modern advancements and facilities, converting your regional currency to a foreign one is an easy game. The same goes for the conversion of SAR to INR as well. Using a currency converter platform, you can easily convert one currency to another. The current exchange rate for 1 SAR is 21.86 INR. To understand it better, let's follow an example.
Renuka Singh is a working individual and is currently employed in Saudi Arabia. She wishes to send 50,000 SAR to her mother in India for her surgery. Now let us know how much money is going to be received by Sita's mother.
Following today's exchange value, 1 SAR = 21.861 INR and 1 INR = 0.045 SAR. This makes the value of 50,000 SAR to be 1,093,076 Indian Rupee. So, Renuka's mom will be getting a total amount of 10 lakhs 93 thousand and 76 rupees.
A currency converter is a simple online tool which is there to help you quickly calculate the results. All you have to do is simply enter the inputs in the online tool and submit. The tool will show results in no time. It is helpful when you are planning to make international transactions like that in SAR/INR. As the exchange rates of SAR/INR keep on changing, here is the calculation as of today. As mentioned, today's rate for 1 SAR is INR 21.86. So, the value of 10 SAR would be 10×21.86 = INR 218.53.
The value of SAR and INR is never fixed and keeps on changing. And as both, SAR and INR are the official currencies of their region, their rates are determined by their central banks, following several factors like the demand, supply, economic environment, and so on. The central bank of Saudi Arabia is called Saudi Central Bank and in India, it is the Reserve Bank of India. Both banks are responsible for collaborating and fixing the exchange rate for SAR/INR.
When carefully looking over the exchange trends, one can see that the highest value of INR against SAR stands to be INR 22. 11 as of 25th Feb 2023. However, the average rate prevailing in this period is 21.86 INR. Also, the lowest value was recorded on 10th Nov 2022, as Indian Rupee stood at 21. 40 as 1 SAR. Understanding the readings, it is speculated that the value of INR will be increasing making it a strong currency to invest in. It would be wise to follow the prevailing exchange rates before making a transaction to understand the best rates. For this purpose, you can definitely make use of the currency converter to make quick calculations.
Thomas Cook is a global leader in the forex and travel market. We aim at meeting every travel requirement of yours, like booking hotels , flights , tours and arranging the foreign exchange. We help you design the best package to Saudi Arabia, while enabling you to convert INR to Saudi Riyal at the best market rates. Feel free to visit our website or the nearest branch to find the best packages for the holy Emirate called Saudi Arabia.
All our branches are well equipped to convert Saudi Riyal to INR and our dedicated forex experts can help you through the process. Converting foreign currency couldn’t have been simpler!
Don't let anything hold you back. Convert SAR to INR today.
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