24/06/2020: Rwandan Franc Devaluation
The central bank of Rwanda announced a gradual devaluation of the Rwandan franc to enhance export competitiveness and stimulate economic growth.
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.
03/12/2008: New Currency Series
A new series of Rwandan franc banknotes was introduced, featuring updated security features and designs.
01/01/2004: East African Community
Rwanda joined the East African Community, leading to increased economic integration and cooperation within the region.
20/12/2003: Launch of Riyal Interbank Express (SARIE)
SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.
03/12/1998: Currency Redenomination
The Rwandan franc underwent a redenomination, with 100 old francs being replaced by 1 new franc.
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.
07/04/1995: Rwandan Genocide
The Rwandan Genocide began, causing economic instability and inflation for the Rwandan franc.
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.
01/12/1973: Currency Reform
A currency reform was implemented, introducing a new series of Rwandan franc banknotes.
25/06/1964: Introduction of the Rwandan Franc
The Rwandan franc was introduced as the official currency of Rwanda, replacing the East African shilling.
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.
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.