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 Currency appreciation and depreciation Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained. Currency appreciation in the same context is an increase in the value of the currency. Short-term changes in the value of a currency is reflected in changes in the exchange rate. In a floating exchange rate system, a currency's value goes up (or down) if the demand for it goes up more (or less) than the supply does. In the short