20/05/2018: SAMA grants licenses for full-fledged digital banks
SAMA issued licenses to two banks for providing digital banking services, reflecting a shift towards digitalization in the financial sector.
21/12/2016: Saudi Arabia introduces the SAR 200 note
A new 200 riyal banknote was introduced, featuring a portrait of King Abdullah bin Abdulaziz Al Saud.
01/07/2013: Exchange rate unification
North Korea unifies the official exchange rate and market rate, resulting in a significant depreciation of the won.
30/11/2009: Currency revaluation
North Korean government announces a currency revaluation, replacing the old won notes at a ratio of 1 for 100.
20/12/2003: Launch of Riyal Interbank Express (SARIE)
SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.
01/12/2001: Currency redenomination
North Korean won is redenominated, with the previous notes and coins being replaced by new ones at a ratio of 1 for 1,000.
27/05/1997: Introduction of Saudi Arabian Monetary Agency new design series
SAMA introduced a new series of banknotes with enhanced security features to combat counterfeiting.
25/02/1992: Introducing foreign exchange certificates
North Korea introduces foreign exchange certificates to counter hyperinflation and stabilize its economy.
30/06/1986: Saudi riyal pegged to the US dollar at 3.75 SAR per USD
Saudi Arabia pegged its currency to the USD, ensuring stability and ease of trade with international partners.
06/12/1979: Second major revaluation
North Korean won undergoes its second major revaluation, with the exchange rate being set at 1 for 10.
31/12/1959: First major revaluation
North Korean won undergoes its first major revaluation, with the exchange rate being set at 1 for 100.
01/03/1952: Introduction of Saudi Arabian Monetary Agency (SAMA)
SAMA was established as the central bank of Saudi Arabia, responsible for issuing and managing the Saudi riyal.
06/12/1947: Introduction of North Korean won
North Korean won is introduced as the official currency of North Korea, replacing the Korean yen at par value.
23/09/1932: Establishment of the Kingdom of Saudi Arabia
The Saudi riyal currency was introduced following the unification of the Kingdom under King Abdulaziz Al Saud.