Saudi Riyal / Turkish Lira

SAR/TRY shows the Turkish lira value of Saudi Arabia's currency, the riyal. The riyal is managed by the Saudi Central Bank; the institution carried the name Saudi Arabian Monetary Agency for many years and is still known by the abbreviation SAMA. The riyal has been tied to the US dollar at a fixed rate since 1986.

Because of the fixed exchange rate regime, the movement in SAR/TRY stems largely from USD/TRY. Saudi Arabia's economy relies on crude oil exports; the country is one of the founding members of OPEC, which is influential in global energy markets through its decisions on oil supply. Oil income is the main pillar supporting the peg. The riyal's subunit is called the halala, and Saudi Arabia is a member of the Gulf Cooperation Council. The country's programs to diversify the economy toward non-oil sectors are also among the long-term topics watched in the background of the rate.

In Turkey, the riyal rate is also followed because of Hajj and Umrah journeys. The SAR/TRY value shown on Lzzo.com is a cross calculation based on market exchange rates, not a bank buy/sell price; prices applied by exchange offices to cash riyal transactions may differ from this value.