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
Egyptian piastre 10 and 20 para, and 1 qirsh were in circulation, along with gold coins denominated as ¼, ½, 1, 2 and 3 "mahbub". Egyptian piastre The piastre (Egyptian: ersh, قرش) was the currency of Egypt until 1834. It was subdivided into 40 "para", each of 3 "akçe". The piastre was based on the Turkish kuruş, introduced while Egypt was part of the Ottoman Empire. As in Turkey, debasement lead to the piastre falling significantly in value. In 1834, the pound, or gineih (Arabic) was introduced as the chief unit of currency, worth 100 piastre. The piastre continues in use to