Saudi Arabia Currency to Naira: Check November 2023 Price Update

Filed in Articles by on November 1, 2023

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The Saudi Arabia Currency to Naira is the exchange rate of the Saudi Arabia currency which is also known as saudi riyal to the Nigerian Naira. Several factors affects this exchange rate and we will get to know more.

saudi arabia currency to naira

The Saudi Arabia Currency

Saudi Arabia which is also known officially as the Kingdom of Saudi Arabia is a country in West Africa. Its official language is Arabic although English is partly spoken.

The Saudi Riyal is the official currency of the Kingdom of Saudi Arabia.

Countries Using Saudi Arabia’s Currency

Kingdom of Saudi Arabia.

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Saudi Arabia Currency to Naira

The exchange rate of 1 Saudi Arabia to naira is 203 naira in the bank.

Factors that Drive the Saudi Riyal to Naira Rate

1. Demand and Supply: The demand and supply drive the exchange rate in the foreign exchange market.

2. Oil Prices: The two countries that use the riyal and naira are major producers of crude oil and the exchange rate is linked to the prices of oil.

CSN Team.

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