Since 1952 , the Saudi currency has been printed, minted, and issued at the Saudi Central Bank "SAMA" (formerly the Saudi Arabian Monetary Agency). As per Saudi laws, this privilege is exclusive to the bank, and no one else may exercise this right.
The Council of Ministers determines the denominations of coins and banknotes, their shapes, designs, engravings, dimensions, contents, and all matters related to their descriptions and expenses, as well as storage locations, molds, and schedules for their printing or minting.
Meanwhile, the Saudi Central Bank decides on the denominations of coins and banknotes that need to be replaced or withdrawn from trading, the seizure and confiscation of counterfeit and forged currency, and the methods for disposing of them.
The value of the Saudi Riyal (SAR) is equivalent to 0.197482 gm of pure gold. The SAR is divided into twenty Saudi Qirsh (piasters), and each piaster is equal to five halalahs.
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