AED to SAR

AED - United Arab Emirates Dirham (د.إ.‏)
SAR - Saudi Riyal (ر.س.‏)
1 AED1 SAR

Currency conversion rates from AED to SAR

AEDSAR
1 AED1 SAR
5 AED5 SAR
10 AED10 SAR
20 AED20 SAR
50 AED50 SAR
100 AED100 SAR
250 AED250 SAR
500 AED500 SAR
1000 AED1000 SAR
2000 AED2000 SAR
5000 AED5000 SAR
10000 AED10000 SAR
SARAED
1 SAR1 AED
5 SAR5 AED
10 SAR10 AED
20 SAR20 AED
50 SAR50 AED
100 SAR100 AED
250 SAR250 AED
500 SAR500 AED
1000 SAR1000 AED
2000 SAR2000 AED
5000 SAR5000 AED
10000 SAR10000 AED

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

  • The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
  • Natural gas and petroleum exports play an important role in the economy.
  • The service sector is also an important source of income.
  • Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
  • The United Arab Emirates is part of the World Trade Organization.
  • Imports are machinery, manufactured goods, and transport equipment.
  • In 2009, 85% of exports were natural resources.
  • The United Arab Emirates has the fastest-growing economy in the world.

History

  • The original currency in the United Arab Emirates was the Bahraini Dinar.
  • Before 1966 the United Arab Emirates used the Gulf Rupee.
  • The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
  • From 1973 to 1982 the United Arab Emirates issued the Dirham.
  • In 1976 the United Arab Emirates minted commemorative coins.
  • In the late 1980s a fixed rate was established between the Dirham and the USD.
  • 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
  • In 1997 the Dirham was pegged to the US Dollar.

More information about AED - United Arab Emirates Dirham (د.إ)


SAR - Saudi Riyal (SR)

Saudi Riyal

The Saudi Riyal is the name given to the official currency of Saudi Arabia. The Riyal has been the currency for the country since before the name Saudi Arabia existed. The Riyal was also used as the currency for The Kingdom of Hejaz from 1916-1925. The Riyal is currently pegged to the US Dollar at a rate of 1 USD = 3.75 SR.

The Saudi Arabian Riyal is the currency in Saudi Arabia (SA, SAU). The Saudi Arabian Riyal is also known as the Saudi Arabian Rial. The symbol for SAR can be written SRls. The Saudi Arabian Riyal is divided into 100 halalat. The exchange rate for the Saudi Arabian Riyal was last updated on Today from The International Monetary Fund. The SAR conversion factor has 6 significant digits.

Economy

  • Saudi Arabia’s economy is highly dependent on the petroleum industry, with ~45% of GDP and 90% of exports derived from the oil sector. It is estimated that Saudi Arabia controls roughly 20% of the world’s total oil reserves.
  • The current Saudi government is attempting to reduce its dependence on oil and stimulate growth in other industries by privatizing several key public functions — telecommunications and electricity.
  • The Saudi stock market index, known as the Tadawul , is the largest stock market in the Middle East.
  • Saudi Arabia is one of the fastest growing countries in the world. Per capita income is expected to rise from ~USD$15,000 in 2006 to >$33,000 in 2020, due in part, to the establishment of six new “economic cities.

History

  • The Riyal has been the currency of Saudi Arabia since before its name change (from Kingdom of Hejaz) in 1925. Its original value was tied to the Ottoman 20 kuruş, but used the term ghirsh (or qirsh or قرش in Arabic).
  • In 1925, coins were introduced for ¼, ½ and 1 ghirsh. ¼, ½ and 1 riyal coins followed shortly thereafter, and were introduced in 1927. These coins were still identified as the currency of the Kingdom of Hejaz.
  • The first coins issued as the currency of Saudi Arabia were introduced in 1935. These coins replaced the ¼, ½, and 1 riyal Kingdom of Hejaz coins.
  • In 1937, the ¼, 1/2, and 1 ghirsh Hejaz coins were also replaced by Saudi Arabian equivalents, and in 1946, 2 and 4 ghirsh coins were introduced.
  • The first “banknotes” were introduced in 1953 by the Saudi Arabian Monetary Authority (SAMA). Haj Pilgrim Receipts were actually receipts that were intended to be used in pilgrim foreign exchange transactions, but eventually became widely used for larger transactions.
  • In 1961, SAMA replaced Haj Pilgrim Receipts with regular banknotes in values of 1, 5, 10, 50, and 100 riyal. Pilgrim Receipts were officially phased out in 1964.
  • In 1963, the ghirsh was replaced by a new sub-division, the halala, with 1 halala = 1/100th of a riyal. At introduction, a 1 halala coin was issued, but 5, 10, 25, and 50 halala coins followed in 1972. The ghirsh is no longer commonly used in Saudi Arabia.
  • In 1986, the Riyal was pegged to the IMF’s Special Drawing Rights. In 2003, the Riyal was officially pegged to the US Dollar at 1 Riyal = 3.75 USD.

More information about SAR - Saudi Riyal (SR)