Country ISO code: SA

Official language: Arabic

Language ISO code: ar

Current official currency: Saudi Riyal

Currency ISO code: SAR

Complete Financial History of the Kingdom of Saudi Arabia

Current official currency: Saudi Riyal (SAR)

• ISO code: SAR

• Symbols: ر.س, SAR

• Singular name: Riyal

• Plural name: Riyals

• Monetary subdivision: 1 Riyal = 100 Halalas

• Fraction singular name: Halala

• Fraction plural name: Halalas

• Initial production date: 1343 AH / 1924 AD (first Saudi copper coins)

• Final production date: Still in circulation

• Initial circulation date: 1343 AH / 1924 AD

• Final circulation date: Still in circulation

• Mint: Saudi Arabian Monetary Authority (SAMA) and contracted international mints

• Issuing bank: Saudi Arabian Monetary Authority (SAMA)

Coin denominations

• 1 Halala

• 5 Halalas

• 10 Halalas

• 25 Halalas

• 50 Halalas

• 1 Riyal

Banknote denominations

• 1 Riyal

• 5 Riyals

• 10 Riyals

• 50 Riyals

• 100 Riyals

• 200 Riyals

• 500 Riyals

Economic and historical context

• Before the unification of Saudi Arabia, foreign currencies such as the Austrian Thaler ("French Riyal"), British Pound, Indian Rupee, and Egyptian Piastre circulated in different parts of the Arabian Peninsula.

• In 1340 AH / 1922 AD, King Abdulaziz began stamping foreign coins with the word "Najd" to regulate currency circulation, later changed to "Hejaz" after the unification of Hejaz and Najd in 1343 AH / 1925 AD.

• In 1354 AH / 1935 AD, the first Saudi silver Riyal bearing the name "Kingdom of Saudi Arabia" was issued after the country's unification.

• The Saudi Arabian Monetary Authority (SAMA) was established in 1371 AH / 1952 AD, becoming the second oldest central bank in the Arab world, responsible for issuing currency and regulating the financial sector.

• Saudi Riyals have been minted in silver and gold, with the first official banknotes issued in 1381 AH / 1961 AD during King Saud's reign.

• The Saudi Riyal has undergone several monetary issues and commemorative editions reflecting the kingdom's economic and political development, including coins commemorating the centennial of the kingdom's founding and the G20 summit hosted by Saudi Arabia.

• On 21 Sha'ban 1446 AH / February 20, 2025 AD, King Salman approved a new Saudi Riyal currency symbol inspired by Arabic calligraphy to enhance national identity.

Minting and production locations

• Coins are minted by SAMA, with some production outsourced to international mints.

• Banknotes are printed at specialized facilities operated or contracted by SAMA.

Designs and symbols on coins and banknotes

• Coins feature the state emblem, King Abdulaziz's name, minting date, and traditional motifs.

• Banknotes display images of King Abdulaziz, national landmarks, Islamic symbols, and Arabic calligraphy.

Production volumes, honorees, and seals

• Precise production data is not publicly available but periodic reports are issued.

• Several commemorative issues have been released for national, sports, and cultural occasions.

Commemorative coins and curiosities

• Commemorative coins have been issued for the kingdom's centennial, the G20 summit, and other national events.

Current circulation status

• The Saudi Riyal is the sole legal tender actively circulating in the kingdom and used for all financial transactions.

Issuing authority

• Saudi Arabian Monetary Authority (SAMA)

Relevant monetary legislation

• Currency is governed by SAMA laws and national financial regulations.

Names and titles of banknote signatories

• Banknotes bear the signature of the Governor of SAMA.

Persons honored on coins and banknotes

• Coins and banknotes honor King Abdulaziz Al Saud, national symbols, and Saudi heritage elements without focusing on other individuals.

Official language recognized by the state for administrative, legislative, judicial, monetary, and educational use:
Arabic is the official language of Saudi Arabia, used in all official domains, with widespread use of English in education and commerce.