Convert USD to SAR
The exotic currency pair USD/SAR experiences very little volatility owing to Saudi Arabia's decision to peg the SAR's value to that of the US dollar. Over the past year, the USD/SAR has only experienced a change of 0.02% in its value.
The economy of Saudi Arabia is heavily dependent on its petroleum industry, as Saudi Arabia is the world's leading producer and exporter of crude oil. Crude oil contributes to as much as 45% of the kingdom's GDP and accounts for 90% of total exports out of Saudi Arabia.
The US dollar experiences ample fluctuations on the release of important economic data from the US, such as GDP, inflation, unemployment rate, retail sales, consumer confidence, business sentiment, PPI as well as PMI readings from the manufacturing and non-manufacturing sectors.