Conversion
Link to the pound: The United Kingdom and Saudi Arabia have maintained a close economic and diplomatic relationship for decades. This partnership also influences the exchange rate between the pound and the riyal. Historically, both countries have shared interests in the energy and defense sectors, which influences the exchange between the two currencies.
Interaction with the Swiss franc: Although Saudi Arabia and Switzerland are geographically distant from each other, there are significant trade links, particularly in the luxury goods and banking sectors. The exchange rate between the riyal and the Swiss fran c can be influenced by such business activities and by direct investments in both countries.
Dynamics with the euro: The European Union is an important trading partner for Saudi Arabia, especially in terms of oil exports. The euro therefore plays a decisive role in trade relations between the EU and Saudi Arabia. The economic ties between the two regions have a direct impact on the riyal-euro exchange rate.
Relationship with the US dollar: The link between the riyal and the US dollar is particularly noteworthy. The riyal is pegged to the dollar, which means that its valuation is directly influenced by that of the US dollar. This peg has been in place since the 1980s and was established as a result of the close economic and political ties between the US and Saudi Arabia, particularly in the energy sector.
Other important currencies: Saudi Arabia has trade relations with a large number of countries, which means that the riyal is also influenced by other major currencies. Countries in the Asian region, particularly China and India, have become important trading partners for Saudi Arabia and their currencies could play an even greater role in the future.
The Saudi Arabian riyal, deeply rooted in the country's dynamic oil economy, interacts with a number of global currencies. Its value provides information not only about the state of the Saudi Arabian economy, but also about the country's geopolitical and economic relations on a global level.