Saudi Arabia has unveiled newly designed banknotes and coins with added security features that make forgery difficult.
The new issuance is the first step to addressing the preponderance of one-Riyal bills currently in circulation. Half of all Saudi paper notes are one-Riyal notes, which is worth a little more than a quarter U.S. dollar.
A two-Riyal note was added in a coin form due to “suffering from harmful bacteria on paper currency and to continuously replacing banknotes as they damage faster than coins,” Asharq Alawsat.
The first number of all categories of the new banknotes and coins were delivered to King Salman on Monday at al-Yamamah Palace. Then, on Tuesday, a ceremony that was attended by both Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman officially launched the sixth issue of the banknotes and coins of the Saudi riyal on Tuesday, bearing the motto “Confidence and Security,” to mark the successful era of King Salman.
The first Saudi currency was launched in 1935 with the silver riyal, half riyal and quarter riyal.
