Saudi riyal Saudi riyal The Saudi riyal ( ""); is the currency of Saudi Arabia. It is abbreviated as The riyal has been the currency of Saudi Arabia since the country came into being and was the currency of Hejaz before Saudi Arabia was created, one of the primary currencies in the Mediterranean region during the Ottoman era. The Hejaz riyal was based on but not equivalent to the Ottoman 20 kuruş coin and was consequently divided into 20 qirsh. However, although the Hejaz riyal was the same weight as the Ottoman 20 kuruş, it was minted in .917 fineness, compared to
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