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 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