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.
15/01/2015: Removal of Minimum Exchange Rate
The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.
06/09/2011: Implementation of Minimum Exchange Rate
The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.
20/12/2003: Launch of Riyal Interbank Express (SARIE)
SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.
13/09/1999: Introduction of Euro
Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.
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.
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.
08/05/1973: Floatation of Swiss Franc
Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.
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.
01/05/1936: Introduction of Swiss National Bank
The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).
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.
24/11/1907: Gold Standard Referendum
Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.
06/06/1850: Currency Act of 1850
The Swiss franc (CHF) was introduced as the official currency of Switzerland.