Can I convert Saudi Rials to Dollars in the U.S ?

I know that there are certain currencies that I can convert into dollars at any U.S bank (euros, yens, pounds, swedish crowns, etc.) and I know that there are some that I cannot (moroccan Dirhams for one) . So does the Saudi Rial belong to the first category or the second?

I’m asking because I have a few hundred rials in my possession and I’m wondering if I can keep them or if I should spend them now and get rid of them before coming back to the U.S.

thanks for your time

Gozu

Sorry to be a bother but if any of you has an account with a bank that does convert saudi rials, could you let me know the rate? It ought to be close to $0.26 / rial

Again, thanks for your time

Gozu

I didn’t know that “any bank” could exchange euros, pounds, krona, or whatever. I once was stuck with some Mexican pesos and I never did find a bank that would exchange them. Fortunately it was a very small amount of money, though.

American banks are very, very provincial. Few know what to do with exotic stuff like Canadian Dollars. Riyals send them into fits.

How many you got? I will be in the US in September and will buy them off you.

To answer your question, there is no law against changing into the Mighty Riyal, but it is a very minor currency and most exchange places don’t deal in them.

I won’t have much, around $200-350 . I appreciate your offer but I was looking to spend them before september :slight_smile:

Since I posted this, someone told me that BoA will take’em but will do so at a very bad rate ($ 0.23 / 1SAR instead of $0.26). for the math challenged among you, that’s around 9% commission.

So i’ll keep looking.

OK, drop me a line if I can be of any help.

I came back from Europe with a British 20-pound note and I couldn’t exchange it to save my life. Every bank in Springfield looked at me like I had horns coming out of my head. One cconfused and exasperated bank manager suggested taking it to a bank in Chicago. Yeah right, like I was going to make a six-hour round trip for what would have been around $35.

What about airports? If you’ve a major international one near you, you may be able to find a money changer. Might be a bit high on the commission though…

-Butler

Depending upon where you live (if not in or near a major city you may be outta luck) there might be a currency conversion office such as Thomas Cook or AmEx. They do tend to charge a high % for the service though.

I would bet a hahalla that you cannot find a money exchange in the US that handles Riyals outside of the major gateway airports. It would be tough to find one there. Riyals are just not that common.

Take a look at these folks.

It looks like they do currency exchanges between $50 and $3000, via phone and Fedex/UPS. They are in Texas.

My bank (Wells Fargo) does currency conversion at every branch. However, I think they only deal in a dozen or so major currencies. I would call their central office to see if they can do the exchange by mail/fedex for you for minority currencies.

Thanks for all your replies. I found out about currencysource as well and they do seem to offer the best deal out there (in fact, i’m not sure HOW they make a profit) but I am a bit wary about sending money that way. there doesn’t seem to be any failsafe.

I’ll look around the net for info on those guys.