The vast numbers of pilgrims from over 160 countries bring with them foreign currencies that provide the money exchange industry in Makkah, Madina and Jeddah with thriving business at all hours of the day and night, and trade has been given an extra boost in this year's Haj due to favorable exchange rates that have increased demand for the Saudi riyal. “Haj is high season, and most of our trade comes from Arabs, Africans and Asians,” said money changer Muhammad Al-Amoudi. “The demand for the riyal drops towards the end of Haj but demand for other currencies, especially the US dollar, then increases tremendously.” Idris Housawi from Nigeria is performing the Haj for the eighth time. “I always deal in the US dollar because the dollar exchange rate in the Kingdom is stable,” he said. “At the moment the demand for the Saudi riyal is high, particularly from Asian pilgrims, because the riyal exchange rate in the Kingdom is better than in their own countries,” said Ahmed Bakarman of a Jeddah exchange firm. Bakarman expects, however, demand for the euro and pound sterling to increase over the next few days as pilgrims from Europe start arriving. Dedan, a pilgrim from Indonesia, described Jeddah's money changers as “professionals and experienced”. “They say that their work is to provide a service to pilgrims and they only make nominal profits,” he said. Money exchangers themselves say they work to a profit margin of just a few halalahs.
