Sunday, April 5, 2009

Kingdom of Saudi Riyal

The fourth series under King Fahad. 1984 - 2007

The fifth series of the Saudi Arabian riyal

On May 20, 2007, "the Saudi Arabian Monetary Agency, pursuant to article (4) of the Saudi Currency Law, issued under the Royal Decree No. (6) and dated 1/7/1379H." announced the fifth domination of the Saudi Riyal that features King Abdullah Bin Abdulaziz's picture on all notes except the 500 riyal, which features the late King Abdulaziz Al Saud. The 100 and 50 riyal notes were released on May 21, 2007. The 10 and 5 riyal notes followed on June 2007, then the 500 riyal followed on September 2007, and finally the 1 riyal note completed the series on December 2007. It is expected by the SAMA that the fourth (current) series will take approximately two years to phase out, although a complete removal of the current series require more than two years since the fourth series has been in circulation for well over 20 years. The fourth series which feature late King Fahad's picture will remain legal tender under the Saudi Arabian monetary law. The new series will have the latest and most advanced security system to prevent from counterfeiting and other similar activities.

Information and Image Obtained From Wikipedia, the free encyclopedia

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