Looking to exchange SAR with US Dollars

Hi,

I will be travelling extensively in few months with friends & then later with family. I just want to keep some cash in the form of US dollars. I am looking to exchange on standard rate with some expat or agency.

i.e. 1 USD = 3.75010 SAR

I had been following this post but its not that much of help as the selling price of USD is quite high these days if done through banks or money exchange retail points.

https://www.expat.com/forum/viewtopic.php?id=74182

Mode of payment:
1. It can be handedover to you via cash or through bank transfer on the same moment (whatever you choose). 
2. We can exchange our signed iqama & passport copies to make it more secure and comfortable.

anyone ?

Most US airports have a place to exchange in their international terminals, but there is always a fee.

I think the exchange rate we get from the bank isn't that bad. You may actually find it worth the hassle of getting money exchanged from outside or open market.

I use SABB since I have my salary account there.
Their rate is fixed at 3.753998947 SAR to a dollar

This compared against your target rate (i.e. 3.75010 SAR) results in a loss of only 27 halalas for every 1000 SAR exchanged. This comes out to be just 0.27%.
And you get to do this in an instant, online via internet banking.
Compare it with the hassle of going somewhere or to some individual for exchanging currency.
Also, keep in mind that getting them from open market would always have the risk of a fraud, where as with the bank, it is highly unlikely that bank will give you fake currency notes.

A while back I might have taken you up on the offer, being without a bank account and therefore unable to exchange my dollars for riyals.

I think I eventually got 3.75 at the bank.

I agree using a bank is much less fraught with risk.

If you're looking for ease and convenience, the airport is the way to go. But you'll get a slightly better rate at the bank.