Job Discussion Forums

scot47 · Joined: 10 Jan 2003 Posts: 15343

Technically the peg is to Special Drawing Rights but who outside the Federal Reserve Bank knows what they are.

The effective peg is US$4 = 15 SR or SR3.75 = 1 Buck.

johnslat · Posted: Sat Sep 05, 2009 7:12 pm Post subject:

Dear scot47,

"In June 1986, the riyal was officially pegged to the IMF's Special Drawing Rights (SDRs). In practice, it is fixed at 1 U.S. dollar = 3.75 riyals, which translates to approximately 1 riyal = 0.266667 dollar. This rate was made official on January 1, 2003.
The riyal briefly rose to a 20-year high after the Federal Reserve cut interest rates on September 18, 2007 and the Saudi Arabian Monetary Agency chose not to follow suit, partially due to concerns about the inflationary effects low interest rates and a lower value for the riyal. The riyal returned to its peg against the U.S. dollar in early December of 2007."

http://en.wikipedia.org/wiki/Saudi_riyal

For those with financial acumen, an explanation of Special Drawing Rights (SDR) can be found here:

http://en.wikipedia.org/wiki/Special_Drawing_Rights

Regards,
John

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

I do not disbelieved anyone but I do count on my eyes looking at the exchange rate and terms, conditions, exchange rate, commisions and the works when I went to my bank last week - please Cleo or John do not take offense but I am the "I believe it what I see it and double check" Laughing

At the end of the day it what you get in your pocket, so whatever works for you !

Cleopatra · Posted: Sat Sep 05, 2009 7:23 pm Post subject:

Grendal · Posted: Sat Sep 05, 2009 9:34 pm Post subject:

what is the problem linda467?

i sent money to canada and turkey and it was sent in us dollars. if you want to send money in euros then you might lose on the deal because the riyal is pegged to the dollar and then they'll buy euroes with it. i sent 10000 SAR to turkey and only paid 25 SAR commission. the money arrived in my bank as us dollars.

nothing hard to figure about this.

regards.

Grendal

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

Grendal,

Of course not, I am just trying to figure out what is the best for me, I�m on the Eurozone remember...

Like I said, whatever works for you ! we are all in different parts of the world with different currencies and some of the banks over here are hungry for commisions because they�ve lost a lot of income due to global crisis, so I would like, as anyone else to minimize bank charges

Common sense I believe Razz

The Lathe of Heaven · Posted: Sat Sep 05, 2009 9:48 pm Post subject:

hi linda468,

Seeker786 · Joined: 02 Sep 2009 Posts: 12

HendrickBruwer, if you don't mind me asking is your offer from Princess Noura University in Riyadh?

HendrikBruwer · Joined: 03 Sep 2009 Posts: 8

No it's from Al-Mujaz Education Centre. The contract asks for split-shifts 6 days a week, with Thursdays half-day. Seems a bit like slave labor, if I'm hearing the other posters here correctly. I think I'm gonna save my own ass and not sign.

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

TLOH,

Yes, unfortunately there is not that many sensible peple in the world but I still like to think the glass is half full instead of half empty and the few can do a lot of good

BFN

Cleopatra · Posted: Sun Sep 06, 2009 8:36 am Post subject:

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

Dear Cleo,

Good suggestion. I love to consider and evaluate different alternatives - there is more than one way to skin a cat Surprised

, and that is definitely a good one

Let�s get together with Trap and family and have a Basket & Robbins ice-cream feast !!

Thanks ever so much
Linda

NewInTownTEFLer · Joined: 02 Sep 2009 Posts: 13

Hi BFN aka linda
that indian chap wont risk his lucky marriage with a british woman and hang out with you,
plus
mr. gaza tshirt wont hang out with trapzeus..
unless you people are into interracial..
gee, why cant people talk about marriage and dating on PMs.. sorry lind, not PMS.. Smile

Linda467 · Joined: 01 Sep 2009 Posts: 138 Location: A Secret

New in town whatever, do not twist my words, I am not hanging out, want to date anyone, including you Shocked

Please do not put words into my writting that I haven�t said. Out of courtesy I offer something to someone who took the time and trouble to give an straight answer and provide information.

I am a pretty serious, responsible person and only want to get together with the likes. By the way I just had a call from the Ambassador�s office in Riyadh and got all kinds of information - everything very positive.

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA