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Riyal and the Philippine Peso are two major currencies in Southeast Asia. Also, the value of the Riyal and Philippine Peso have been increasing over the last year, making it easier to convert between the two currencies.
This makes it easy for companies that import and export products to benefit from Saudi Riyal to Philippine Peso conversion rates because their goods will be able to get across borders more easily. This blog will cover everything you need to know about Riyal to Peso conversion.
What Is Riyal?
The Saudi Riyal (ر.سSAR) is the national currency of Saudi Arabia, which is also known as just “the Riyal”. The riyal is subdivided into 100 halalas, but no subdivisions have been issued since April 1992. The riyal is pegged at a rate of SAR3.75 per US dollar.
Since the riyal is pegged to the US dollar, the currency is sometimes referred to as the “riyal dollar.” Most of the money that is circulating in Saudi Arabia is the riyal. Banknotes are issued in denominations of 1, 5, 10, 20, 50, 100, 200, and 500 riyals. The riyal was introduced in the year 1973 to replace the Saudi dinar in a move to decimalize the region’s currencies.
How much is one riyal in PHP?
What Is Peso?
A peso is a type of currency used in several Latin American countries. It is the currency of Argentina, Chile, Colombia, and Uruguay. The peso symbol is $, and its ISO 4217 code is “ARS”. There are also several subdivisions of the peso. In Argentina, Uruguay, and Chile, it is subdivided into 100 centavos.
In Colombia, it is subdivided into 1000 (singular: peso or plata) or 100 centavos, with the plural being the same for both. Its name comes from the Spanish word for weight since all currencies were previously weighed and not counted. In English, peso means “weight” or “mass”.
The Peso is the official currency of the Philippines.
Where Do You Exchange Riyal To Peso?
In The Philippines
Naila’s Money Changer
This cash converter along Mabini St. in Malate, Manila, is the go-to shop for people who need to change their US dollars, Japanese yen, British pound, and Kuwaiti dinar into the official currencies of other countries such as Norwegian krone, Danish krone, South African rand, Brazilian real and Peruvian sol.
Sanry’s Money Changer
Others trust Sanry’s Forex because its rates are always reliable. The company has a vast network of branches located in some of the city’s most popular malls, such as Greenbelt 1, Glorietta 2, Market! Market!, and Trinoma.
You can have foreign currency remittances exchanged into pesos right away at M Lhuillier. This remittance facility provides reasonable foreign exchange rates for currencies like the euro, US dollar, and Japanese yen.
You can exchange currencies like the euro, US dollar, and Japanese yen at M Lhuillier
In Saudi Arabia
Tahweel Al Rajhi
Tahweel Al Rajhi is a subsidiary of Al Rajhi Bank specializing in remittance and currency exchange. Its 8 branches are located in Mecca, close to many more branches of its parent company: Al Rajhi Bank.
Enjaz is the leading foreign exchange and money transfer provider based in Saudi Arabia. It has a wide network of branches in almost every corner of the country – with over 8 offices conveniently placed near Masjid al-Haram in Mecca alone. If you’re in the area, stop by their branch beside Marriott Hotel for great rates on both currency exchange and international bank wires!
Alamoudi Exchange Company
Alamoudi Exchange Company is one of the most well-known exchange companies in Saudi Arabia. This company has a high presence in Jeddah. Despite this, they also have a branch located in Mecca close to many hotels, including Al Jazeerath Hotel, Hyatt Mawaddah Hotel, Asga Softel Hotel, and Manar Mawadah Hotel.
Malatani Exchange, a family-owned business in Jeddah, is a well-known money changer in Mecca. Customers’ reviews on their website and review sites like Google speak positively of their service. Malatani’s Mecca branch is near the Al Shahba Hotel on Umm Al Qura Road.
How Do You Convert Riyal to Peso?
The exchange rate for the Saudi Riyal to Philippine Peso is:
|Bangko Sentral ng Pilipinas||-||14.468|
|Metropolitan Bank and Trust Company||1.509||-|
|Banco de Oro||12.430||14.520|
|Updated as of:||3/22/2023|
Source: Bangko Sentral Ng Pilipinas and banks
And the exchange rate for the Philippine Peso to Saudi Riyal is:
|Saudi Arabi Money (Unit: SAR)||Philippines Money (Unit: PHP)|
|1 Riyal to PhilippinesPeso||14.54|
|5 Riyal to PhilippinesPeso||72.68|
|10 Riyal to PhilippinesPeso||145.36|
|50 Riyal to PhilippinesPeso||726.80|
|100 Riyal to PhilippinesPeso||1,453.60|
|200 Riyal to PhilippinesPeso||2,907.19|
|300 Riyal to PhilippinesPeso||4,360.79|
|500 Riyal to PhilippinesPeso||7,267.98|
|1000 Riyal to PhilippinesPeso||14,535.97|
|2000 Riyal to PhilippinesPeso||29,071.93|
|5000 Riyal to PhilippinesPeso||72,679.83|
|10000 Riyal to PhilippinesPeso||145,359.67|
You can get this exchange rate today from a currency exchange website like OANDA. You can get the exchange rate for currency pairs, precious metals, and other commodities by doing the currency converter. While the exchange rate can be used to get the value of one currency in another, it can also predict whether your investment or trading account will grow or shrink in value.
The currency exchange rate can be a bit overwhelming. If you’re in this situation, you may need to understand better the different currencies and how they’re used. The Riyal and Peso are currencies in different countries — Saudi Arabia and the Philippines, respectively.
However, they both have different roles and uses, making it difficult for someone who doesn’t live in the country to understand them. With the ultimate guide below, we hope you could have gained all the knowledge about the two different currencies and how you can convert Riyal to Peso and save money in the long run!
Euro to PHP – Euro to PHP Exchange rate
South Korean Won to PHP – KRW to PHP
Yuan to Philippine Peso – Yuan to PHP – RMB to PHP
Yen to PHP – JPY to PHP Exchange rate
Canadian dollar to Peso – CAD to PHP Exchange Rate
AUD to PHP – Australian Dollar to Peso Exchange Rate
SGD to PHP – Singaporean Dollar To Peso Exchange Rate