Evolution of Saudi Arabia Riyal Currency From 1950 to Till Date

The riyal has been the currency of Saudi Arabia since the country came into being and was the currency of Hejaz before Saudi Arabia was created, one of the primary currencies in the Mediterranean region during the Ottoman era. The Hejaz riyal was based on but not equivalent to the Ottoman 20 kuruş coin and was consequently divided into 20 qirsh. However, although the Hejaz riyal was the same weight as the Ottoman 20 kuruş, it was minted in .917 fineness, compared to .830 fineness for the Ottoman coin. Thus, because the first Saudi riyal had the same specifications as the Hejaz riyal and circulated alongside Ottoman coins, it came to be worth 22 Ottoman kuruş and was consequently subdivided into 22 ghirsh when coins denominated in qirsh were issued from 1925. The system remained even though the riyal was subsequently debased to a coin equivalent, in silver content, to the Indian rupee in 1935.

Follow us on Facebook
https://www.facebook.com/Star-Technology-5G-114217917006898/
Follow us on Twitter
https://twitter.com/StarTechnolog18
Follow us on Blogger
https://www.blogger.com/blog/posts/340044206123065358
Follow us on Tumblr
https://startechnology5g.tumblr.com/
Follow us on Pinterest
https://www.pinterest.com/startechnology5g/
Follow us on Linkedin
https://www.linkedin.com/in/star-technology-5g-0779661b2/
Follow us on Reddit
https://www.reddit.com/user/StarTechnology5G/
Follow us on Mix
https://mix.com/startechnology5g
Follow us on Skyrock
https://skyrock.com/m/account/confirm.php

Видео Evolution of Saudi Arabia Riyal Currency From 1950 to Till Date канала Star Technology 5G