Hejaz riyal countermarked for use in Hejaz, with the name of the kingdom in . 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
Currency board Helena continue to operate currency boards, backing their locally printed currency notes with pound sterling reserves. A gold standard is a special case of a currency board where the value of the national currency is linked to the value of gold instead of a foreign currency. For a precise definition of what constitutes a currency board, including past examples, see: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate