Historic Saudi riyal Cuban peso

Saudi riyal cuban peso history for August 2023. The highest quote for this month is 6.4325 (25/08/2023) and the lowest 6.4048 (20/08/2023). The difference between high and low is 0.43.

SAR CUP average rate for August 2023 is 6.39693, the change between 01/08/2023 and 31/08/2023 is -0.02 %.

01 August 20231 SAR = 6.40 CUP
02 August 20231 SAR = 6.40 CUP
03 August 20231 SAR = 6.41 CUP
04 August 20231 SAR = 6.40 CUP
07 August 20231 SAR = 6.35 CUP
08 August 20231 SAR = 6.39 CUP
09 August 20231 SAR = 6.40 CUP
10 August 20231 SAR = 6.40 CUP
11 August 20231 SAR = 6.40 CUP
12 August 20231 SAR = 6.40 CUP
14 August 20231 SAR = 6.41 CUP
15 August 20231 SAR = 6.40 CUP
16 August 20231 SAR = 6.40 CUP
17 August 20231 SAR = 6.40 CUP
18 August 20231 SAR = 6.40 CUP
20 August 20231 SAR = 6.40 CUP
21 August 20231 SAR = 6.38 CUP
22 August 20231 SAR = 6.40 CUP
23 August 20231 SAR = 6.40 CUP
24 August 20231 SAR = 6.40 CUP
25 August 20231 SAR = 6.40 CUP
28 August 20231 SAR = 6.40 CUP
29 August 20231 SAR = 6.40 CUP
30 August 20231 SAR = 6.40 CUP
31 August 20231 SAR = 6.40 CUP

01/01/2021: End of Monetary Dualism

The Cuban government completed the currency unification process, eliminating the convertible peso (CUC) and establishing a single currency system with the Cuban peso (CUP).

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.

20/12/2013: Currency Unification Implementation

The Cuban government officially started the process of currency unification, gradually phasing out the convertible peso (CUC) and improving monetary policy.

25/10/2011: Currency Unification Announced

The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.

08/12/2004: Elimination of US Dollar Circulation

The Cuban government announced the withdrawal of the US dollar as legal tender and introduced the convertible peso (CUC) as a replacement.

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.

07/12/1994: Dollarization Decree

Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.

01/08/1994: Special Period

The Cuban economy faced a severe crisis due to the collapse of the Soviet Union, leading to currency devaluation and economic reforms.

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.

01/01/1961: Nationalization of Banks

The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.

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.