Saudi Arabia - Foreign Exchange Controls Saudi Arabia - Foreign Exchange
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 = USD 1. Residents of Saudi Arabia may freely and without license buy, hold, sell, import, and export gold, with the exception of gold of 14 karats or less.
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