Data sources and methodology

The Souq Al Yom dashboard combines reference exchange rates with international gold prices. Check the displayed source and timestamp when comparing a local quote or interpreting a point on a chart.

Exchange rates and conversions

We retrieve exchange rates and daily observations from Frankfurter. The provider aggregates reference rates from central banks and official institutions and can blend several sources for the same pair. Release timing and coverage vary by source and currency. Our inputs are expressed as the number of units of each currency per US dollar.

To convert an amount, divide the destination currency’s units per dollar by the source currency’s units per dollar, then multiply by the amount. In an illustrative example, if one dollar equals 0.92 euros and 3.75 Saudi riyals, one euro equals about 4.076 riyals. A 100 euro conversion gives an indicative 407.61 riyals. The actual payment depends on the provider’s buy or sell direction and charges.

Reference value of gold

Gold API supplies an international gold quote in US dollars per troy ounce. We use Frankfurter’s gold series for the historical chart and may show its latest available reference observation when a usable spot quote is unavailable. The table identifies the daily reference figure when used.

We convert the ounce quote to the selected market currency, divide by 31.1034768 to obtain the pure-metal value per gram, then multiply by the karat divided by 24 and the requested weight. With an illustrative ounce quote of $2,500 and 3.75 riyals per dollar, the estimate for one gram of 21K gold is about 263.74 riyals. This is the metal value before dealer premiums, workmanship or applicable taxes. NIST Handbook 44 lists the troy ounce among its units of mass.

Dates, charts and delayed data

An exchange date identifies a published observation. For a cross-rate between two non-dollar currencies, the displayed date reflects the older of the two inputs. The spot gold timestamp comes from the quote provider. During a feed interruption, we may display the last available figure with a status label. A dash can indicate missing inputs.

Charts use dated reference observations. Holidays and unavailable currency observations can reduce the number of points. For a local-currency gold chart, each gold observation is paired with the exchange data available for the same date. Displayed change is measured against the latest earlier observation with usable inputs.

Display currency

The dashboard uses an approximate country code when available and can fall back to browser settings. You can choose a different country or the international US dollar market. The guides explain how to compare these reference figures with actual provider offers.