Exchanging Riyals for U.S. Dollars

45POSTS

15 years ago

When I lived in Jeddah I had this all worked out but now I'm in Riyadh and have to start all over again. Where do I get a good haircut, where do I buy food, etc...

Most important right now, does anyone know where I can exchange Riyals for U.S. Dollars? Preferably close to the Embassy area or around the Kingdom tower. I'll even go to the Batta or Philippino market area if I can get a good exchange rate.

The banks won't even look at me because I'm not a resident and the hotel busboys offered to get me some Dollars but with the prevalence of funny money floating around I don't want to take any chances. I'm looking for an established business.

Thanks in advance.

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TexasPilot Active member

45POSTS

15 years ago

Thank you, I'll go check them out. Can you believe that I have an account with Emirates NBD in Dubai but their branch here in Riyadh won't even give me the time of day unless I have an account with them locally? Ridiculous but oh well...

I understand the rates are SUPPOSED to be fixed but in Jeddah you can get better rates at the market than at the banks. I wish there was somewhere like that here but I'll go to the banks where you said for now.

Thanks again.

fredsaleh1 Member

24POSTS

15 years ago

the best place is the Al-Rajhi money exchange centres. they're professional, and guaranteed. the rate is pretty good too. they're available everywhere.

kamiii Serial expat

434POSTS

15 years ago

fredsaleh1 wrote:
the best place is the Al-Rajhi money exchange centres. they're professional, and guaranteed. the rate is pretty good too. they're available everywhere.

Yeah I agree with fredsaleh1 .. even in Jeddah.. Al Rajhi used to have a better rate then the coin/money exchangers in the umbrella souq ( The gold and abaya souq opposite Mahmal center / Behind Queens Building )

TexasPilot Active member

45POSTS

15 years ago

Yeah behind Queens in the Corniche, that's where I always went in Jeddah and used the same guys which were great but if you say Al Rajhi is better then that's where I'll go.

Is there one close to the Kingdom tower? That's the closest big building I can see from here. I live about 1.5 miles from there on that road toward the Embassy area. Even closer to me is the Euromarche supermarket.

Dubliner1967 Active member

91POSTS

15 years ago

as I understand it....the real is tied to the dollar at 3.75, so what rate is available from the money changers ? and how is it even possible to get a better rate ?

rcmedina Active member

27POSTS

15 years ago

Al Rajhi in Olaya is good Al-Olaya Branch
Phone No.: 14160856
Fax No.: 14160873
POBox:
...you can also try
Enjaz ENJAZ- BANK AL BILAD
ALOLYA ST.
AL OLYA
RIYADH
(966) (1) 4798937

1 member reacted to this post

kamiii Serial expat

434POSTS

15 years ago

Dubliner1967 wrote:
as I understand it....the real is tied to the dollar at 3.75, so what rate is available from the money changers ? and how is it even possible to get a better rate ?

thats the money market trading rate.. open market rate always varies..

TexasPilot Active member

45POSTS

15 years ago

#10

Thank you RCMedina. Is that close to Al Uruba street? That's where I live.

3.75 is the rate that governments trade but when you go to a bank they will pay you less to buy it from you and charge you more to sell it to you. As much as people around the world hate the American way, when it comes down to it everybody wants to make a buck!

andsoitis Active member

34POSTS

14 years ago

#11

can anyone tell me where in jeddah i can get dollars... headind for sri lanka on honeymoon

malisohail Serial expat

272POSTS

13 years ago

#12

TexasPilot wrote:
Thank you RCMedina. Is that close to Al Uruba street? That's where I live.

3.75 is the rate that governments trade but when you go to a bank they will pay you less to buy it from you and charge you more to sell it to you. As much as people around the world hate the American way, when it comes down to it everybody wants to make a buck!

thats very factual. Exchanging dollars with a local bank is a sheer disappointment. The difference is not marginal in anyway.

Allons-y Active member

71POSTS

9 years ago

#13

**Urgent update needed...

What is the "best" place to change riyals to USD these days?

For around 3,800 SR, what would be the likely range of money "taken" as commission from banks/places in Batha/etc.? For example, at that amount, is it a question of losing 40 SR vs. 80 SR or is the range much bigger, like a differential of 300+SR?

Thanks in advance for all input.

Allons-y Active member

71POSTS

9 years ago

#14

*I went ahead and did the conversion at my bank (Alawwal)... which amounted to more or less what the exchange rate is. Saved time and probably wouldn't get beaten by much.

Kaby VIP Member

567POSTS

9 years ago

#15

Well you can try nextt time Al-Amoudi Exchange on Madina road, as it is the one who gives best rates from all other bank's and exchange center's in KSA.
Either the rates of conversion or the rates for sending money to your home country they have the best rates from all others.

kom340 Contributor

181POSTS

9 years ago

#16

Hi,

Can you share more precise location of Al-Amoudi exchange please?
Is it on King Fahd Road?

1 member reacted to this post

Kaby VIP Member

567POSTS

9 years ago

#17

http://www.alamoudiexchange.com/view/br … anches.php

This have all branches details of Al-Amoudi Exchange, Best reachable branch with convenience is Madina Road Branch.