NIX to SAR Converter and calculator


Conversion rates
Convert NIX to SAR
Convert SAR to NIX
NIX to SAR chart
NIX to SAR conversion data: Volatility and price changes of NIX in SAR
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.07113 SAR | 0.07137 SAR | 0.08126 SAR | 0.08561 SAR |
Low | 0.07113 SAR | 0.07063 SAR | 0.06552 SAR | 0.04575 SAR |
Average | 0 SAR | 0 SAR | 0 SAR | 0 SAR |
Volatility | % | % | % | % |
Change | -- | -0.39% | -2.59% | +44.12% |
NIX information
NIX to SAR market statistics
Current NIX to SAR exchange rate
NIX to Saudi Riyal is falling this week.More info about NIX on Bitget
Saudi Riyal information
About Saudi Riyal (SAR)
The Saudi Riyal (SAR), introduced in 1925, is not just the official currency of Saudi Arabia; it is a symbol of the nation's economic prosperity and cultural heritage. It is commonly abbreviated as SAR and represented by the symbol ر.س. Emerging alongside the founding of Saudi Arabia, the Riyal reflects the country's transformation from a desert kingdom to a global oil powerhouse.
Historical Background
The establishment of the Saudi Riyal was a key step in consolidating the economic foundations of the newly formed Kingdom of Saudi Arabia. Replacing the Hejaz Riyal and other regional currencies, the Saudi Riyal marked the unification of the Kingdom's monetary system, mirroring its political consolidation under King Abdulaziz Al Saud.
Design and Symbolism
The design of the Saudi Riyal combines elements of Saudi Arabia's rich history and Islamic heritage. Banknotes and coins feature intricate Islamic art, images of the King, and landmarks such as the Kaaba in Mecca and the Kingdom Centre in Riyadh. These designs do more than facilitate transactions; they are a celebration of Saudi identity and pride.
Economic Role
The Riyal is central to Saudi Arabia’s economy, underpinned by the country's vast oil reserves. As the medium of exchange, it supports the oil sector, which dominates the economy, and facilitates other key sectors like construction, finance, and tourism. The Riyal’s stability is crucial for the country's economic health and its role in global energy markets.
Monetary Policy and Stability
Managed by the Saudi Arabian Monetary Authority (SAMA), the Riyal is pegged to the US Dollar, reflecting the longstanding economic relationship between Saudi Arabia and the United States, particularly in the oil sector. This peg provides stability to the Riyal, but it also ties its fortunes to the fluctuations of the US economy and dollar.
International Trade and the Saudi Riyal
In international trade, the stability of the Riyal, especially given its peg to the US Dollar, is crucial for Saudi Arabia's oil exports. A stable Riyal is vital for maintaining competitive oil prices in global markets and for the country's extensive import needs.
Remittances and Economic Impact
Remittances from expatriates working in Saudi Arabia, particularly in the oil, construction, and service sectors, are significant. While these remittances involve substantial outflows of Riyals, they also reflect the country's role as a major employer in the region.
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NIX to SAR Conversion tables
Amount | 12:58 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 NIX | ر.س0 | ر.س0 | 0.00% |
1 NIX | ر.س0 | ر.س0 | 0.00% |
5 NIX | ر.س0 | ر.س0 | 0.00% |
10 NIX | ر.س0 | ر.س0 | 0.00% |
50 NIX | ر.س0 | ر.س0 | 0.00% |
100 NIX | ر.س0 | ر.س0 | 0.00% |
500 NIX | ر.س0 | ر.س0 | 0.00% |
1000 NIX | ر.س0 | ر.س0 | 0.00% |
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