The Saudi Riyal (SAR or SR) is the currency used in Saudi Arabia. It is made up of 100 smaller units called halalas. The Saudi Riyal, a symbol of the country’s heritage and modern financial power, is the backbone of its economy and has a strong global presence.
The History of the Saudi Riyal
As a result, they valued it at 22 Ottoman kuruş and divided it into 22 ghirsh when coins denominated in qirsh were introduced in 1925. Even after the riyal was debased in 1935 to match the silver content of the Indian rupee, the original subdivision system remained unchanged.
In 1960, Saudi Arabia changed its currency system, making 1 riyal equal to 20 qirsh. In 1963, they introduced the halala, which is one-hundredth of a riyal. While a few coins still show qirsh, it’s not commonly used anymore.
The Symbol of the Saudi Riyal
On February 20, 2025, Saudi Arabia took a significant step in strengthening its national identity by unveiling a new symbol for the Saudi riyal, approved by King Salman bin Abdulaziz Al Saud.
Designed by key organizations, including the Saudi Central Bank, Ministry of Culture, Ministry of Media, and Saudi Standards Organization, the symbol reflects the nation’s economic strength and rich heritage.
The Saudi Central Bank explained that designers carefully crafted the riyal symbol using Arabic calligraphy. They composed it solely of the Arabic letters that spell out ‘Riyal,’ without adding any extra elements. The bank has also set specific rules for using the symbol, including detailed standards for its size and proportions.
History of Saudi Riyal Exchange Rates
Since 1936, Saudi Arabia’s currency exchange rate system has evolved through various arrangements.
| Time Period | Arrangement | Remarks |
| 1936 – 1948 | 1 SAR = 10.6918 g of silver; 20 SAR = 7.32238 g of gold | The Saudi riyal was initially based on the value of silver and gold, providing a stable foundation for the currency. The fixed weights and values marked the early stage of the riyal’s official establishment. |
| 1948 – September 1948 | 1 SAR = 10.6918 g of silver; 65 SAR = 7.32238 g of gold |
While the silver value stayed the same, authorities adjusted the gold-to-riyal ratio to match changing economic conditions and international standards. |
| 1948 – 1951 | 1 SAR = 10.6918 g of silver | Saudi Arabia made a move to accept the gold sovereign coin as legal tender; in fact, it initially pegged it at 62 riyals, which ultimately signaled a transition to more formalized and standardized currency practices. |
| 1951 – 21 October 1952 | Informal fixed exchange rate (3.68 SAR = 1 USD) | The Saudi government began stabilizing its exchange rate relative to the U.S. dollar, adopting the gold standard, and laying the groundwork for future currency reforms. |
| 22 October 1952 – 1 Nov 1954 | Fixed exchange rate (3.68 SAR = 1 USD) | The establishment of the Saudi Arabian Monetary Authority (SAMA) gave the fixed exchange rate official status, contributing to a period of economic stability for the country. |
| 2 November 1954 – 1958 | Fixed exchange rate (3.75 SAR = 1 USD) | A minor devaluation of the riyal helped stabilize the economy. The government took necessary steps to balance its monetary system in response to changing global market conditions. |
| 1958 – 22 January 1959; 7 February 1959 – 7 January 1960 | Dual exchange rate | Saudi Arabia briefly experimented with a dual exchange rate system, allowing a free market currency exchange alongside the official 3.75 riyals per USD rate.
This temporary flexibility, consequently, helped the market adjust during periods of fluctuation.
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| 8 January 1960 – 14 March 1975 | Fixed exchange rate with USD | Following the 1971 devaluation, the riyal adjusted to 4.50 SAR per USD. The value shifte |
Coins of Saudi Arabia
In 1925, under Ibn Saud, Mecca minted copper coins of 1/4 and 1/2 qirsh, signaling a shift in Saudi currency.
These coins featured the title ‘King of Hejaz and Sultan of Nejd,’ reflecting the growing influence of the Saudi kingdom.
In 1927, officials revised the ruler’s title to ‘King of Hejaz and Nejd and Dependencies,’ marking a significant change. They also introduced new coins: cupro-nickel in 1/4, 1/2, and 1 qirsh, and silver in 1/4, 1/2, and 1 riyal.
This shift played a vital role in refining the kingdom’s currency system.
In 1935, Saudi Arabia issued its first official silver coins—1/4, 1/2, and 1 riyal—50% lighter than earlier versions.
By 1937, officials issued cupro-nickel coins in 1/4, 1/2, and 1 qirsh. In 1946 (AH 1365), they stamped many of these coins with the Arabic numerals ’65’ to limit money changers’ control over small coins. By 1957, authorities had added cupro-nickel coins in 2 and 4 qirsh to the currency system.
In 1963, Saudi Arabia began a new chapter in its currency history by launching the halala. That year, officials minted bronze 1 halala coins, but they issued them for only a limited time.
In 1972, authorities introduced cupro-nickel coins in 5, 10, 25, and 50 halala, with values marked in qirsh or riyal (1, 2 qirsh, 1/4, or 1/2 riyal).
The Story Behind Saudi Arabia’s Coins
The development continued—by 1976, a 1 riyal cupro-nickel coin, worth 100 halala, entered circulation. In 1999, SAMA released bimetallic 1 riyal coins, also inscribed as 100 halala, enhancing the kingdom’s coinage system.
In 2016, Saudi Arabia launched a new series of coins: 1, 5, 10, 25, and 50 halala, plus bimetallic 1 and 2 riyal coins.
Saudi Arabian Coins Issued in 2016
| Coin | Size (mm) | Weight (g) | Material | Edge Style | Front Side | Back Side |
| 1 Halala | 16 | 2 | Nickelcoated steel | Milled | National emblem with Arabic text: “Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud”; Hijri and Gregorian year | Coin value in Arabic and English with decorative art |
| 5 Halalas | 17.5 | 2.4 | Nickelcoated steel | Smooth | Same theme as 1 halala | Value displayed with design |
| 10 Halalas | 19 | 2.8 | Nickelcoated steel | Interrupted milling | Same design approach | Value inscription and pattern |
| 25 Halalas | 21.5 | 4.1 | Brass | Indented edge | Royal emblem and design | Coin value with elegant decoration |
| 50 Halalas | 24 | 5.2 | Brass | Security style edging | Saudi emblem and artistic designs | Denomination shown beautifully |
| 1 Riyal (Bimetallic) | 23 | 5.75 | Outer ring: Brass | Smooth | Portrait of King Salman along with emblem and decorations | Value in Arabic & English, Kingdom’s name, year mentioned |
| 2 Riyals (Bimetallic) | 25 | 6.7 | Outer ring: Cupronickel Center: Brass-plated steel |
Interrupted milling | Image of King Abdulaziz Al Saud with royal emblem and design work | Value, name of country, year, all artistically presented |
Saudi Arabia’s Official Banknotes
The Saudi Arabian Monetary Agency (SAMA) introduced the Hajj Pilgrim Receipts in 1953, initially valuing them at 10 riyals. SAMA specifically designed these receipts to allow pilgrims to exchange their foreign currency during the pilgrimage.
In 1954, SAMA introduced 1 riyal receipts, followed by 5 riyal ones in 1956. Initially for Hajj, their convenience made them popular in everyday transactions.
Over time, these receipts replaced silver riyal coins in larger transactions. In response, SAMA issued official banknotes in 1, 5, 10, 50, and 100 riyals on June 15, 1961. The Hajj Pilgrim Receipts were withdrawn by February 1, 1965, ending their role in the kingdom’s financial system.
he Saudi Arabian government introduced the 500 riyal note as part of their currency update. In 2000, the authorities issued special 20 and 200 riyal banknotes to mark the 100th anniversary of the Kingdom’s establishment.
In 2007, the Saudi Arabian Monetary Agency launched the 5th series of banknotes, featuring the image of King Abdullah.
On December 13, 2016 (14/3/1438H), the agency launched the 6th series featuring King Salman’s portrait, marking a milestone in Saudi monetary history.
The Fifth Edition of Saudi Banknote
On May 20, 2007, the Saudi Arabian Monetary Agency unveiled the fifth series of riyal banknotes, This series featured King Abdullah’s image on most denominations, except for the 500 riyal note, which honored King Abdul aziz.
The new notes were released in phases. The 100 and 50 riyal notes came in May 2007, followed by the 10 and 5 riyal bills in June.
The much-anticipated 500 riyal note was released in September 2007, and the final 1 riyal note followed in December 2007. This release not only refreshed the appearance of Saudi currency but also celebrated the nation’s rich heritage and leadership.
SAMA expects the transition from the fourth series of banknotes to the new series to take about two years.
However, fully withdrawing the fourth series may take longer, as it has circulated for over 25 years.
Saudi Arabian monetary law will recognize the fourth series, featuring King Fahd’s image, as legal tender. Authorities have equipped the new series, replacing the old one, with advanced security features to combat counterfeiting and fraud.
Fifth Series of Saudi Riyal Banknotes (2007)
| Denomination | Size (mm) | Main Color | Obverse Design | Reverse Design | First Printed | Release Date |
| 1 Riyal | 133 × 63 | Light Green | King Abdullah bin Abdulaziz; 7th century gold dinar coin | Saudi Arabian Monetary Agency Headquarters | 2007 | 31 December 2007 |
| 5 Riyals | 145 × 66 | Violet | King Abdullah bin Abdulaziz; Ras Tanura Oil Refinery | Jubayl Port | 2007 | 16 July 2007 |
| 10 Riyals | 150 × 68 | Brown | King Abdullah bin Abdulaziz; Murabba Palace | King Abdulaziz Historical Center | 2007 | 16 July 2007 |
| 50 Riyals | 155 × 70 | Dark Green | King Abdullah bin Abdulaziz; Dome of the Rock, Jerusalem | Al-Aqsa Mosque, Jerusalem | 2007 | 21 May 2007 |
| 100 Riyals | 160 × 72 | Red | King Abdullah bin Abdulaziz; Green Dome | Prophet’s Mosque, Medina | 2007 | 21 May 2007 |
| 500 Riyals | 166 × 74 | Blue | King Abdulaziz al-Saud; Ka’aba | Masjid al-Haram, Mecca | 2007 | 17 September 2007 |
The Sixth Edition of Saudi Banknote
To modernize the currency, SAMA issued new banknotes featuring King Salman on 5–100 riyals and King Abdulaziz on the 500 riyal note.
On October 4, 2020, SAMA launched Saudi Arabia’s first polymer note, the 5 riyals, replacing the paper version.
Designers created the new polymer notes to be more environmentally friendly, secure, and durable, ensuring they last longer than paper notes. Officials did not provide any details about other denominations switching to polymer at that time.
Saudi Arabia issued a special 20 riyal note in 2020 to honor its G20 presidency, but the note quickly became the subject of debate. The reverse side depicted Jammu and Kashmir as an independent nation, not part of India.
This sparked strong disapproval from India, while many in Kashmir and on social media viewed it as support for the region’s independence calls.
Sixth Series (2016) Banknotes
| Value | Dimensions (mm) | Main Color | Description | First Printing | Issue Date |
| 5 riyals | 145 × 66 | Purple | King Salman bin Abdulaziz’s portrait; Shaybah oil refinery | 2020 | 4 October 2020 (polymer) |
| 10 riyals | 150 × 68 | Brown | King Salman bin Abdulaziz’s portrait; Murabba Palace | 2016 | 26 December 2016 |
| 50 riyals | 155 × 70 | Green | King Salman bin Abdulaziz’s portrait; Dome of the Rock, Jerusalem | 2016 | 26 December 2016 |
| 100 riyals | 160 × 72 | Red | King Salman bin Abdulaziz’s portrait; Green Dome, Prophet’s Mosque | 2016 | 26 December 2016 |
| 500 riyals | 166 × 74 | Blue | King Abdulaziz al-Saud’s portrait; Ka’aba, Masjid al-Haram | 2016 | 26 December 2016 |
Commemorative Issues
| Value | Dimensions (mm) | Main Color | Description | First Printing | Issue Date |
| 20 riyals | 152 × 69 | Olive green and grey | King Salman bin Abdulaziz’s portrait; G20 logo | 2020 | 25 October 2020 |
| 200 riyals | 163 × 73 | Grey | King Abdulaziz al-Saud’s portrait; Vision 2030 logo | 2021 | 1 April 2021 |
Fixed Currency Value
In June 1986, Saudi Arabia pegged its riyal to the IMF’s Special Drawing Rights (SDRs).
This arrangement fixed the riyal’s value at 3.75 to 1 U.S. dollar, or about 0.266667 dollars per riyal. On January 1, 2003, authorities formalized this exchange rate, establishing a stable link for the riyal in the international financial landscape.
In September 2007, the riyal briefly reached its highest point in 20 years after the U.S. Federal Reserve decided to cut interest rates.
However, SAMA chose not to follow this move, concerned that lower interest rates could cause inflation and reduce the riyal’s value.
By early December 2007, the riyal had returned to its fixed exchange rate against the U.S. dollar.
Suggested Currency Union
Saudi Arabia, part of the GCC, proposed a currency union with a shared currency by 2010. Despite these plans, each member country of the GCC continues to use its own distinct currency to this day.
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