Are you planning to transfer money from Saudi Arabia to the Philippines or vice versa? Then you must know the current exchange rate between Riyal and Peso. As we know, the exchange rate is the price of one currency in terms of another.
| Country | SAR | Al Rajhi rate | Online Rate | Charges |
|---|---|---|---|---|
| Philippines | SAR Rial1 | ₱15.28 | 15.630 | SAR 15 |
It changes frequently and is influenced by various factors such as economic stability, geopolitical events, and market demand.
In this article, we will provide a comprehensive guide about the Al Rajhi Bank exchange rate for Riyal to Peso today. Al Rajhi Bank is one of the largest Islamic banks in the world and has a significant presence in Saudi Arabia and other countries. Let’s dive in!
Al Rajhi Bank Exchange Rate Riyal to Peso Today
The current Al Rajhi Bank exchange rate for Riyal to Peso today is 0.1253. It means that you will get 0.1253 Peso for every Riyal your exchange. However, the exchange rate is subject to change as per the market demand and other factors affecting it.
Factors Affecting the Al Rajhi Bank Exchange Rate
Several factors can affect the Al Rajhi Bank exchange rate for Riyal to Peso, including:
- Economic Stability: The stability of the economy of Saudi Arabia and the Philippines can impact the exchange rate. If one country’s economy is performing better than the other, it can affect the exchange rate.
- Geopolitical Events: Political instability or significant events in one country can impact the exchange rate. For instance, a political crisis in Saudi Arabia can lead to a decrease in Riyal’s value.
- Market Demand: The demand and supply of a currency in the market can significantly affect the exchange rate. If there is high demand for Riyal in the market, its value will increase, and vice versa.
History of Al Rajhi Bank Exchange Rate Riyal to Peso
Al Rajhi Bank was established in 1957 and had a long history of providing excellent banking services to its customers. Over the years, the bank has played a significant role in the Saudi Arabian banking industry and expanded its operations in other countries.
The exchange rate between Riyal and Peso has been volatile over the years. In 2013, the exchange rate was around 0.11, which has since increased to 0.1253 in 2023. The fluctuation in the exchange rate is affected by various economic and political factors, as discussed earlier.
How to Check Al Rajhi Bank Exchange Rate Riyal to Peso Today?
You can easily check the Al Rajhi Bank exchange rate for Riyal to Peso today by visiting the bank’s website or using their mobile application. Here are the steps to check the exchange rate:
- Go to the Al Rajhi Bank website or mobile application.
- Select the currency you want to exchange (Riyal or Peso)
- The website or application will show you the current exchange rate for the selected currencies.
You can also call Al Rajhi Bank’s customer service center and ask for the current exchange rate. The bank’s customer service representatives are available 24/7 to assist you with your queries.
Conclusion:
In conclusion, the Al Rajhi Bank exchange rate for Riyal to Peso today is an essential factor to consider if you are transferring money between Saudi Arabia and the Philippines. The exchange rate is subject to change and is influenced by various factors, including economic stability, geopolitical events, and market demand.
You can easily check the current exchange rate by visiting the Al Rajhi Bank website or using their mobile application. The bank’s customer service representatives are also available 24/7 to assist you with your queries.
We hope that this comprehensive guide about the Al Rajhi Bank exchange rate for Riyal to Peso today has provided you with all the necessary information. Remember to consider all the factors before making any currency exchange decisions.