Saudi Arabia to replace 1-riyal note with 2-riyal coin

According to the Saudi Arabian Monetary Agency has announced that the 1-riyal banknote won't be printed again and will be replaced with a 2-riyal coin.

"The report said SR1 and SR2 coins will be ideal for buying soft drinks and other small items and services, including parking meters. Additionally, the aim is to ensure 80 percent of the public use electronic means to buy goods. Currently 84 percent prefer cash."

Steven Thursday 02 June 2016 at 9:27 pm | | news
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