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Riyal to Peso Conversion, Saudi Riyal to Philippine Peso Today. Riyal to Peso Conversion is always in the list of topics which are mostly searched in Saudi Arabia. It is due to Filipinos working in Saudi Arabia. According to an estimate published by Wikipedia, nearly 1000,000 workers from Philippines are working Saudi Arabia and of course they have deep interest in Saudi Riyal to Philippine Peso exchange rates. At this page of ours, you can find latest exchange rates from SAR to PHP and PHP to SAR. Riyal to peso rates are varying every day so, the rates available at our websites also varies from every moment in line with latest currency exchange rates.
As said above, about 1 million OFW from Philippines are working in Saudi Arabia. Most of them are working as domestic helpers and care givers in KSA. Formerly Filipino helpers were getting a salary of 1500 Riyals for their job which was equal to 20800 Philippines pesos as of today rate when 1 sar to php is equal to 13.87 PHP. Last Year Saudi Arabia’s Ministry of Labor and social development announced an increment of 200 Saudi Riyal in salary of Filipino Domestic helpers. So Filipino was set to get 1700 SAR every month. It was a good increase in salaries. 1700 Saudi Riyal is equal to 23580 Philippines peso as of today exchange rate.
Philippines Peso is also known as Philippines Piso, Pesos is its plural form. Philippines Peso and Saudi Riyal both are stable currencies. However, Philippines is losing its foreign exchange due to money laundering. Riyal to peso rate is varying around 1 peso up and down since 2018. 1 Riyal to PHP was 14.25 in August and Today it is 13.87 Peso. Though Philippines government has established anti money laundering council to stop illegal remittance’s ways which are adopt to get better Riyal to Peso Conversion rates.
According to the report of anti-money laundering council Philippines nearly 10 Billion Pesos funds have been transferred through money laundering from 2015 to 2016. It is very alarming statistics however, Philippines government is very committed to stop money laundering and no doubt it is very effective way for them to increase their foreign reserves. Foreign reserves keep currency rate and economy stable and smooth.
Philippines need to take serious steps to stop money laundering. Especially government give good SAR to PHP rates to workers who are working in Saudi Arabia and same for workers working in other countries. Remittance’s ways should be easier and convenient for both sender and receiver and more profitable.
Workers in Saudi Arabia should not use illegal ways to send money from Saudi Arabia to Philippines just for sake of better Saudi Riyal to Philippines peso rates. There are many legitimate and trusted ways available for Filipinos which are offering better Riyal to Peso conversion rates in legal ways.
List of Legal and legitimate ways for sending remittance from Saudi Arabia to Philippines includes the following companies and banks:
- Enjaz Bank
This bank offers money transfer service from Saudi Arabian bank to Philippines bank account. It takes normally two days to complete money transfer. Receiver can receive money through bank account in Philippines. Average fee of this bank is 26.78SAR.
TeleMoney offers very fast money transfer from SAR to PHP with less than one hour. It charges fee around 29.93 SAR. Receiving person can receive money in cash from TeleMoney Agent in Philippines.
- Xpress Money
With an average fee of 30.45 Riyal, transaction from Saudi Arabian to Riyal tp Peso can be completed with less than an hour. Receiver can get money in cash form from any xpress money agent.
MoneyGram Charges 35.70 SAR fee to transfer money from Saudi Arabia to Philippines with in less than one-hour duration. It is very safe and quick to send money.
- Western Union
This is highly popular way of making transactions worldwide. We strongly recommend western union because of its good Saudi Arabia Riyal to Philippines Peso rates. However, it is expensive method. Western union charges an average fee 40.95 Riyal for sending money. Money can be received from any western union branch in cash form.
- Saudi American Bank
Saudi American Bank charges 61.95 SAR fee to send money. It is highly expensive method. This is a bank to bank transfer. Money transfer is completed with less than one hour.
Many other services for sending Riyal to Peso are also available where money can be sent online from Saudi Arabia to Philippines in no time. These online companies’ list includes Halo, Currencies Direct, Transfer Wise, Xend > Pay, InstaRem, RemitBee, TransFast and Covercy.
These was some methods to send money from KSA to Philippines. You can check which service is offering good rates but always try to stay away from illegal methods.
Saudi Arabia Riyal is one of the most stable currencies. Millions of people are visiting Saudi Arabia for tourism, work and especially for Hajj and Umrah. Many industries of Saudi Arabia grow just because of hajj and Umrah especially tourism industry, construction, food and transportation. Millions of Pakistan, Indian, Bangladeshi, Filipinos and other countries citizens are working in Saudi Arabia. As said already, Riyal is strong and stable currency, so foreigners can have better income due to better exchange rate.
It is no doubt Filipinos are working very hard abroad and send remittance to their country. Jobs in Saudi Arabia and in Gulf countries especially for domestic helpers are very hard and sometimes their Kafeel is also a not good boss. However, Saudi Arabian Government is trying to take some good and effective steps for welfare and protection of foreign workers and especially for domestic helpers.
Salary of Domestic helpers have already increased; they are 1700 SAR salary every month. If they choose proper money transfer service, they can get better Riyal to Peso rates as I have already listed some websites which gives good Saudi Riyal to Philippine Peso exchange rate with faster and cheaper services. These all are reliable methods which give better SAR to PHP rates and also you can put contribution in increasing the foreign reserves of your country which ultimately boost your economy. And obviously common public enjoys the fruits of stable economy.