SAR information
About Saudi Riyal (SAR)
The Saudi Riyal (SAR), introduced in 1925, is not just the official currency of Saudi Arabia; it is a symbol of the nation's economic prosperity and cultural heritage. It is commonly abbreviated as SAR and represented by the symbol ر.س. Emerging alongside the founding of Saudi Arabia, the Riyal reflects the country's transformation from a desert kingdom to a global oil powerhouse.
Historical Background
The establishment of the Saudi Riyal was a key step in consolidating the economic foundations of the newly formed Kingdom of Saudi Arabia. Replacing the Hejaz Riyal and other regional currencies, the Saudi Riyal marked the unification of the Kingdom's monetary system, mirroring its political consolidation under King Abdulaziz Al Saud.
Design and Symbolism
The design of the Saudi Riyal combines elements of Saudi Arabia's rich history and Islamic heritage. Banknotes and coins feature intricate Islamic art, images of the King, and landmarks such as the Kaaba in Mecca and the Kingdom Centre in Riyadh. These designs do more than facilitate transactions; they are a celebration of Saudi identity and pride.
Economic Role
The Riyal is central to Saudi Arabia’s economy, underpinned by the country's vast oil reserves. As the medium of exchange, it supports the oil sector, which dominates the economy, and facilitates other key sectors like construction, finance, and tourism. The Riyal’s stability is crucial for the country's economic health and its role in global energy markets.
Monetary Policy and Stability
Managed by the Saudi Arabian Monetary Authority (SAMA), the Riyal is pegged to the US Dollar, reflecting the longstanding economic relationship between Saudi Arabia and the United States, particularly in the oil sector. This peg provides stability to the Riyal, but it also ties its fortunes to the fluctuations of the US economy and dollar.
International Trade and the Saudi Riyal
In international trade, the stability of the Riyal, especially given its peg to the US Dollar, is crucial for Saudi Arabia's oil exports. A stable Riyal is vital for maintaining competitive oil prices in global markets and for the country's extensive import needs.
Remittances and Economic Impact
Remittances from expatriates working in Saudi Arabia, particularly in the oil, construction, and service sectors, are significant. While these remittances involve substantial outflows of Riyals, they also reflect the country's role as a major employer in the region.
MDM to SAR conversion rate trend
Conversion rate comparison of various exchanges
| Exchange | Price | Maker / Taker Fee | Tradable |
|---|---|---|---|
Bitget  Best | ر.س0 | 0.0200% / 0.0320%  VIP 7 |
How to buy Medium
Buy MDM (or USDT) for SAR (Saudi Riyal) offers
| Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
|---|
Sell MDM (or USDT) for SAR (Saudi Riyal) offers
| Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
|---|
What factors influence the conversion rate of Medium to Saudi Riyal?
Medium to Saudi Riyal is rising this week.Conversion tables
The exchange rate of Medium is decreasing.MDM to SAR
SAR to MDM
Today vs. 24 hours ago
| Amount | 18:04 today | 24 hours ago | 24h change |
|---|---|---|---|
| 0.5 MDM | $0.00 | $-0.{8}9108 | +0.00% |
| 1 MDM | $0.00 | $-0.{7}1822 | +0.00% |
| 5 MDM | $0.00 | $-0.{7}9108 | +0.00% |
| 10 MDM | $0.00 | $-0.{6}1822 | +0.00% |
| 50 MDM | $0.00 | $-0.{6}9108 | +0.00% |
| 100 MDM | $0.00 | $-0.{5}1822 | +0.00% |
| 500 MDM | $0.00 | $-0.{5}9108 | +0.00% |
| 1000 MDM | $0.00 | $-0.{4}1822 | +0.00% |
Today vs. 1 month ago
| Amount | 18:04 today | 1 month ago | 1M change |
|---|---|---|---|
| 0.5 MDM | $0.00 | $0.02900 | -90.62% |
| 1 MDM | $0.00 | $0.05800 | -90.62% |
| 5 MDM | $0.00 | $0.2900 | -90.62% |
| 10 MDM | $0.00 | $0.5800 | -90.62% |
| 50 MDM | $0.00 | $2.9 | -90.62% |
| 100 MDM | $0.00 | $5.8 | -90.62% |
| 500 MDM | $0.00 | $29 | -90.62% |
| 1000 MDM | $0.00 | $58 | -90.62% |
Today vs. 1 year ago
| Amount | 18:04 today | 1 year ago | 1Y change |
|---|---|---|---|
| 0.5 MDM | $0.00 | $0.01927 | -86.52% |
| 1 MDM | $0.00 | $0.03854 | -86.52% |
| 5 MDM | $0.00 | $0.1927 | -86.52% |
| 10 MDM | $0.00 | $0.3854 | -86.52% |
| 50 MDM | $0.00 | $1.93 | -86.52% |
| 100 MDM | $0.00 | $3.85 | -86.52% |
| 500 MDM | $0.00 | $19.27 | -86.52% |
| 1000 MDM | $0.00 | $38.54 | -86.52% |
Medium price prediction
What will the price of MDM be in 2025?
What will the price of MDM be in 2030?
Other crypto price predictions
Bitcoin(BTC)Price predictions
Ethereum(ETH)Price predictions
Celestia(TIA)Price predictions
Solana(SOL)Price predictions
Worldcoin(WLD)Price predictions
Bittensor(TAO)Price predictions
Dogecoin(DOGE)Price predictions
PepeCoin(PEPECOIN)Price predictions
Pandora(PANDORA)Price predictions
ORDI(ORDI)Price predictions
Bitget Earn
APR
Purchase other cryptocurrencies with similar market cap
Popular Medium conversions
Popular cryptocurrencies to SAR
Discover more cryptocurrencies
Latest coin listings on Bitget
FAQ
What is a cryptocurrency calculator?
How does a cryptocurrency calculator work?
How accurate is a cryptocurrency calculator?
Can I trust the results of a cryptocurrency calculator?
Can I use a cryptocurrency calculator for tax purposes?
Can a cryptocurrency calculator be used to convert one type of cryptocurrency to another?
