Saudi riyal
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Image:Saudi currency.jpg The riyal (currency code SAR) is the official currency of Saudi Arabia.
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History
The riyal has been the currency of Saudi Arabia since the country came in to being and was the currency of Hejaz before Saudi Arabia was created. The Hejaz riyal was initially equivalent to the Ottoman 20 qurush coin and was consequently divided into 20 qurush, each of 40 para.
However, the riyal was later set equal to the larger Maria Theresa thaler, worth 22 Ottoman qurush. Hence, the Saudi currency system was initially 22 qurush = 1 riyal. This remained the system of currency even though the riyal was subsequently debased.
In 1960, the system was changed to 20 qurush = 1 riyal and this was followed in 1963 by the introduction of the hallalah, worth one hundredth of a riyal. Saudi coins still bear denominations in qurush as well as in hallallah.
Denominations
The Saudi Arabian Monetary Agency (SAMA) issues banknotes in denominations of 1, 5, 10, 20, 50, 100, 200 and 500 riyals and coins in denominations of 5, 10, 25, 50 and 100 hallalahs. The one-hallalah coin is discountinued.
Exchange Rate
The riyal has been fixed against the U.S. dollar since 1986. One riyal equals 0.2667 dollars, and a dollar equals 3.7502 riyals. The Bahraini dinar is pegged in turn to the riyal: one dinar is worth ten riyals.
External links
- Saudi Arabian Monetary Agency: Shows all Riyal issues since the first edition to the special edition. Does not include newer releases such as the new 500 and 100 banknotes with enhanced security features.
Template:AsianCurrenciesar:ريال سعودي de:Saudi Rial ko:사우디 리알 pl:Rial saudyjski