The exchange rate had multiple corrections in its history, with 1 riyal originally being equal to 22 qurush coins | |
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In 1960, the currency changed to 20 qurush coins being equal to 1 riyal | When Saudi Arabia was established in 1932, the Saudi Riyal was introduced |
In 1963, the currency was decimalized and a new subunit called the halala was introduced, dividing the riyal into 100 equal parts.
In the early 1900's, the Hejaz Riyal was issued as official currency | |
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