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Saudi Arabia Launches Riyal Coins to Replace Banknotes.

5/24/2018 12:00:00 AM   |      |   

Saudi Arabia Launches Riyal Coins to Replace Banknotes:

The Saudi Arabian Monetary Authority (SAMA) will start withdrawing SR1 banknotes from the market from Thursday.

In a statement, SAMA announced issuing its sixth edition, which was developed during the reign of the King Salman bin Abdulaziz with great attention and deligence.

The one-riyal coin has a portrait of King Salman in silver in the center. On the right side, the name and title of the King Salman bin Abdulaziz Al Saud are engraved in a golden frame, and on the left there is a plant motif encompassing the Kingdom’s national emblem.

The SR1 banknotes will eventually be replaced with one-riyal coins.

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