Hejaz riyal Hejaz riyal The riyal (Arabic:ريال "") was the currency of the Kingdom of Hejaz between 1916 and 1925. It was subdivided into 20 qirsh (). The riyal was a silver coin the same weight as the Ottoman 20 kuruş coin but was minted in .917 fineness rather than .830 fineness. The Hejaz riyal was replaced by the Saudi riyal in 1925 at par. In 1916, bronze coins were issued for ⅛, ¼, ½ and 1 qirsh together with silver 5, 10 and 20 qirsh. Gold 1 dinar coins were also minted. Turkish and Egyptian coins and Maria Theresa thaler, were
Currency appreciation and depreciation themselves cause the value of a currency to change. A longer-run trend of appreciation (or depreciation) is likely to be caused by home country inflation being lower (or higher) on average than inflation in other countries, according to the principle of long-run purchasing power parity. When a country's currency appreciates in relation to foreign currencies, foreign goods become cheaper in the domestic market and there is overall downward pressure on domestic prices. In contrast, the prices of domestic goods paid by foreigners go up, which tends to decrease foreign demand for domestic products. A depreciation of the home currency has