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What is the Saudi Riyal?
The Saudi Riyal is the currency of Saudi Arabia. The ISO code is: SAR. Subdivided into 100 Halalas, the riyal has been the currency of Saudi Arabia since the country came about. It was also the currency of Hejaz (region of present-day Saudi Arabia) before Saudi Arabia was created.
Understanding Saudi Currency
In 1935 the first coins were issued in the name of Saudi Arabia, with denotations of silver 1/4, 1/2 adn 1 riyal coins. Cupro-nickel 1/4, 1/2 adn 1 ghirsh were also later issued in 1937. In 1963, the halala was introduced and bronze1 halala. In 1999, the bimetaliic 1 riyal coins, also makred 100 halala were introduced into circulation.
Banknotes were introduced in 1953 by the Saudi Arabian Monetary Agency (SAMA), issuing Haj Pilgrim Receipts for 10 riyals. These were originally intended for the use by pilgrims who exchanged foreign currency for them. 500 riyal notes were introduced in 1983, later 20 adn 200 riyal banknotes entered circulation in 200 to commemorate the centenary of the founding of Saudi Arabia.
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