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 the opposite effects. In addition, depreciation of a currency tends to beneficially affect a country’s balance of trade by improving the competiveness of domestic goods in foreign markets while making foreign goods less competitive in the domestic market by becoming more expensive. In the international capital market, a change in a currency’s value may give raise to a foreign exchange gain or loss. The appreciation of the domestic currency raises the value of financial instruments denominated in that currency, while there is an adverse impact on debt instruments. Currency appreciation and depreciation Currency depreciation is the loss of value of