13/12/2021: Introduction of New Banknotes and Coins
New banknotes and coins were introduced, featuring updated designs, improved security features, and denominations. This aims to enhance the efficiency of cash transactions.
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.
03/04/2017: Transition to Free Float
After gradually reducing interventions, Kazakhstan fully transitioned to a free float exchange rate for the tenge, allowing the market to determine its value.
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.
20/08/2015: Tenge Devaluation
Kazakhstan devalued the tenge by around 30% due to falling oil prices and economic instability. This move aimed to boost exports and protect the economy.
19/04/2004: Introduction of New Banknotes
New banknotes with enhanced security features and updated designs were introduced to combat counterfeiting and modernize the currency.
20/12/2003: Launch of Riyal Interbank Express (SARIE)
SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.
04/10/1999: Floating Exchange Rate
Kazakhstan switched to a floating exchange rate regime, allowing the tenge to fluctuate freely based on market supply and demand.
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.
15/02/1994: Denomination of Tenge
The tenge underwent a 10,000-fold denomination, where 1 new tenge was equal to 10,000 old tenge. This was done to simplify currency handling and eliminate excessive zeros.
15/11/1993: Introduction of Kazakhstani Tenge
The Kazakhstani tenge was introduced as the new currency of Kazakhstan, replacing the Soviet ruble. The exchange rate was set at 1 tenge = 500 rubles.
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.
01/03/1952: 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.