Saudi riyal conversion

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Saudi riyal

Abbreviation/Symbol:

  • Riyal

Worldwide use:

  • Saudi Arabia

Description:

The Saudi Riyal is the official currency of Saudi Arabia. One Riyal is subdivided into 100 Halala. Riyal banknotes are available in 1, 5, 10, 50, 100, 200 and 500 Riyals. Coins come in denominations of 5 and 10 Halala, though not largely used, the 25 Halala or quarter Riyal, the 50 Halala or the half Riyal and the 100 Halala. The fifth issue of the Saudi Riyal was issued in 2007. The new series have the latest and most advanced security system to prevent counterfeiting.

In 2012 a total of 152.5 billion Saudi Riyal notes were printed. This is 505 times more than the value of coins minted in the same year. The largest quantities printed amongst the Saudi Riyal denominations was the 500 Riyal note with a total print value of SR122 billion. The least printed note was the SR20 Riyal note with a value of only SR180.6 million.

Origin:

The Saudi currency used today is a descendant of the Maria Theresa Thaler which was a silver bullion coin used in world trade since 1741. It was named after Empress Maria Theresa who ruled Austria, Hungry and Bohemia from 1740 to 1780. The name Thaler evolved into the word Daaler and Daler, which then became Dollar.

Component units:

  • Halalas (100)

Date introduced:

  • 1966

Central bank:

  • Saudi Arabian Monetary Agency

Printer:

  • Saudi Arabian Monetary Agency

Mint:

  • Saudi Arabian Monetary Agency