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.
09/03/2012: Introduction of New Banknotes
Hungary introduced new banknotes with enhanced security features, aiming to combat counterfeiting and improve the forint's credibility.
23/10/2008: Global Financial Crisis
The global financial crisis had a significant impact on the Hungarian forint, resulting in a significant depreciation against major foreign currencies.
01/05/2004: Accession to the European Union
Hungary joined the European Union, bringing the forint closer to the eurozone and influencing its future trajectory as an EU 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.
28/02/2001: Currency Exchange Rate Stability
The Hungarian government adopted a policy of maintaining a stable exchange rate for the forint against the euro, contributing to the currency's stability.
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.
16/06/1989: Transition to a Market Economy
Hungary implemented economic reforms, including the transition from a planned economy to a market economy, with significant impacts on the forint's value and exchange rate.
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.
20/08/1949: Forint becomes a planned economy currency
Hungary's currency, including the forint, became part of the planned socialist economy under the control of the Hungarian Workers' Party.
03/08/1946: Introduction of the Forint
The forint was introduced as the official currency of Hungary, replacing the previous pengő, which had been severely devalued during World War II.
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.