Exchange Rate in Saudi Arabia
Saudi Arabia - Exchange RateOil production cuts in compliance with the OPEC+ oil deal and lower prices for the black gold led GDP growth to slow to the lowest rate in over one year in the second quarter. On the upside, the private sector continued to benefit from the government’s pro-growth policies. Looking at the third quarter, the trend should have been broadly similar as in the previous quarter. Saudi Arabia pumped less oil in Q3 2019 compared to the same quarter in 2018, especially in September, when oil production plummeted in the aftermath of a drone attack on Saudi oil facilities. Moreover, oil prices remained subdued in the same quarter. Conversely, the non-oil PMI continued to strengthen compared to the previous year in Q3, boding well for private business activity. On 17 October, Aramco delayed the planned launch of its initial public offering (IPO) as the government is struggling to meet the planned valuation of the company.
Saudi Arabia - Exchange Rate Data
|Exchange Rate (vs USD)||3.75||3.75||3.75||3.75||3.75|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Exchange Rate Chart
Saudi Arabia Facts
|Bond Yield||2.49||0.0 %||Jun 23|
|Exchange Rate||3.75||0.0 %||Sep 04|
|Stock Market||0.2||1.00 %||Sep 04|
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November 19, 2019
Consumer prices rose 0.2% over the previous month in October, matching September’s result.
November 5, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, jumped from September’s 57.3 to 57.8 in October.
October 27, 2019
Consumer prices rose 0.2% over the previous month in September, above August’s 0.1% increase.
October 24, 2019
Oil prices declined in the second half of September and the first days of October as Saudi Arabia gradually restored crude oil output following the 14 September drone strike on the Kingdom’s oil facilities.
October 3, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, rose from August’s 57.0 to 57.3 in September.