A look at Saudi monetary system on eve of sixth issue of currency

The Saudi Arabian Monetary Agency was established through Royal decrees in 1952. (Shutterstock)

The Saudi Arabian Monetary Agency (the central Bank) announced the release of the new designs of Saudi banknotes. It is the 6th issue of banknotes and coins in the history of the kingdom. The governor of the agency Ahmed Al-Khulaifi said during the release that the new Saudi Arabian currency notes have added 3 dimensions’ security lines and new features.

Khulaifi spoke about “conventional watermarks and developed and undeveloped phosphorous inks,” explaining that the new features were designed to help the “automated examination of the currency.”

The currency also featured evident signs that would help blind people to identify the categories. The governor revealed that the one Riyal category will gradually turn into coins and he revealed the introduction of the 2 Riyals category for the first time.

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Last Update: Wednesday, 20 May 2020 KSA 09:48 - GMT 06:48
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