- Monetary unit:
- Country code:
- Saudi Arabia, Kingdom
- Saudi riyal
- of 1 960 582 sq. km
- Arabian (state)
- SA (SAU) 682
During formation of a modern monetary system of Saudi Arabia the national monetary unit some times varied. So, in 1928 the sovereign which was equal to 10 riyals and 110 kershes was considered as national unit, in 1952 a leading world currency also there was a sovereign, but it was equated already to 40 riyals and 440 kershes, and is more narrow since 1960 and till today state monetary unit is the Saudi riyal which makes 2 kuruses and 100 halals. As central bank the Currency agency of Saudi Arabia acts.
In circulation there are denominations of denomination of 1, 5, 10, 20, 50, 100, 200 and 500 riyals. A symbol of the Saudi riyal at the international level - SAR .
On May, 20th, 2007 the Currency agency of Saudi Arabia has entered the fifth series of notes of the Saudi riyal on which the plotting of sheikh Abdalla ibn Abdel Aziz's on face side, except the note 500 rial on which the late sheikh Abdel Aziz Al Sauda is represented is seated into the circulation. The fourth series on which the late sheikh Fahad is represented and which was in circulation more than 25 years, will remain a lawful legal tender according to the legislation of Saudi Arabia and will by degrees be introduced from the circulation. A new series has the most advanced systems of safety for a counterfeit prevention.
Under the law at entry to the country or at departure from it tourists are obliged to have at passage through customs house the declaration on money resources, securities and valuable metals which in a money's worth exceed the sum of 60 000 Saudi riyals both in local, and in a foreign exchange.
Foreign money for territories of Saudi Arabia can be changed in country business banks, change machines, shops and in private exchange offices. Free importation and domestic currency exportation Is authorised.
It is updated 04.2012