A shocking mistake worth 14.47 pounds! This is what the Housing and Development Bank recorded today in the selling price of the Saudi riyal (27.15 pounds) compared to buying it for 12.61 pounds, while the prices of 25 other banks varied with differences that reached 44 piasters per transaction during transactions on Tuesday, December 23, 2025.
The latest updates on the Egyptian market showed that the difference between the highest and lowest purchase price of the riyal amounted to 44 piasters, as Al Ahli Bank of Kuwait recorded the highest purchase price at 12.65 pounds, while the United Bank fell to the lowest level at 12.23 pounds per riyal.
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The central bank sets the official line At a purchase price of 12.64 pounds and a sale price of 12.68 pounds, but the actual application in commercial banks revealed a different scene:
- First group (highest prices): Al Ahli Bank of Kuwait, Abu Dhabi Islamic Bank and Ahli United Bank at 12.65 pounds buy
- The second group (middle): Major banks such as Al-Ahly, Misr and Suez Canal at 12.60 pounds
- Tertiary group (lowest): Gulf banks such as Qatar National Al Ahli and Emirates NBD, with an average of 12.54 pounds
While most banks maintained the selling price between 12.67-12.68 pounds, the Industrial Development Bank deviated from this trend, which raised the selling price to 12.75 pounds, and the Housing and Development Bank, which made a grave mistake.
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Impact on customers’ pockets It is clear: Whoever transfers 1,000 Saudi riyals may lose or gain up to 440 pounds, depending on the bank’s choice, which requires careful comparison before any exchange transaction during the coming period.
