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.
15/10/2006: New series of banknotes
Costa Rica introduced a new series of banknotes featuring enhanced security features to combat counterfeiting and modernize the colón 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.
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.
21/05/1991: Free-floating exchange rate
Costa Rica transitioned to a floating exchange rate regime, allowing the colón's value to be determined by market forces.
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.
09/11/1961: Introduction of the Monetary Reform
Costa Rica implemented a monetary reform, replacing the old colón with a new one at a rate of 1 to 100, to combat inflation.
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.
30/11/1949: Abolition of the army
After the abolition of the army, the Costa Rican government focused on economic development, leading to stable monetary policies for the colón.
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.
14/12/1917: Establishment of the Central Bank of Costa Rica
The Central Bank of Costa Rica was established to oversee monetary policy, including the management of the colón.
09/04/1896: Adoption of the gold standard
Costa Rica adopted the gold standard, pegging the value of the colón to gold, leading to currency stability.
18/03/1850: Introduction of the Costa Rican colón
The Costa Rican colón was officially introduced as the currency of Costa Rica to replace the Spanish real.