Glossary: riyal (SR)

DEFINITION:
Saudi Arabias currency unit. Riyal is pegged to the International Monetary Fund (q.v.) special drawing rights (SDR--a unit consisting of a basket of international currencies) as SR4.28 = SDR1. In May 1993 the exchange rate was SR3.75 = US$1, a rate that had not changed since June 1, 1986.

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