Select a currency Prior to the 20th century, foreign currencies such as the Maria Theresa Thalers and British Gold Sovereigns circulated and served the monetary needs in Arabia, with the exchange rate of 1 Gold Sovereign being equal to 5 Theresa Thalers | The exchange rate had multiple corrections in its history, with 1 riyal originally being equal to 22 qurush coins |
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When Saudi Arabia was established in 1932, the Saudi Riyal was introduced | In 1952, the Saudi Arabian Monetary Agency SAMA was established, with various reforms being introduced in order to establish a single currency system |
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22In 1963, the currency was decimalized and a new subunit called the halala was introduced, dividing the riyal into 100 equal parts | |
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