Exchange rates and Transferring Money

Hello jyurong.  I also bank with BoA back in the US.  I do not have a bank account here in the KSA.  I am having my employer wire the monies directly into my bank account in the US - I really prefer it that way so I do not have to worry about doing it myself.  I am not sure though if you employer will do that for you.

Regarding how much to bring.  I would suggest not to exchange any rials bank home.  Wait until you get here - there are ATMs all over the place.  I found 4 banks where I can withdraw money from my account back home - SAAB, SAMBA, NCB and Al Rijidh (sp?).  I do suggest though that before you leave that you contact your bank and maybe have them up your daily withdrawal limit.  That caused some issues with me because I was trying to withdraw more than my alloted daily limit and I was getting crazy transaction errors.

USD is pegged at 3.75 - it does not fluctuate.

Best of luck.

Here is another thought about transferring money back home - wire transfers can be pretty expensive.  I am not exactly sure how much that would cost from here since I have not had to do it myself.  Although I have done bank-to-bank wire transfers back home. 

One alternative is Western Union - that might be a cheaper option for you.  Do you have someone in the US that you absolutely trust? (might be a loaded question ... hahaha).  If you do, then send the money to them via Western Union and they can deposit it directly into your account.  This was one of the options I was toying with before coming here and luckily I do have a good friend who was willing to deposit the money for into my account back home.

Thanks for the info - I'll hold off on exchanging currency here and just get it once I land.