SAR

Saudi Riyal from Saudi Arabia. Each riyal is composed of 100 hallalahs. The Saudi Arabian Monetary Agency (SAMA) issues banknotes in denominations of 1, 5, 10, 20, 50, 100, 200 and 500 riyals and coins in denominations of 1, 5, 10, 25, 50 and 100 hallalahs. The one-hallalah coin is rarely seen.

The riyal has been fixed against the U.S. dollar at about 3.75 to 1 for many years. One riyal equals 0.2267 dollars, a dollar equals 3.7502 riyals.

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Merchant bank

A British term for a bank that specializes not in lending out its own funds, but in providing various financial services such as accepting bills arising out of trade, underwriting new issues, and providing advice on acquisitions, mergers, foreign exchange, portfolio management, etc.


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