Saudi Arabia - 10 Saudi Riyals - P-NEW - Foreign Paper Money

10 Riyals, P-New. Security strip! The Saudi riyal is the currency of Saudi Arabia. It is subdivided into 100 halalas. The currency is pegged to the US dollar at a constant rate of exchange.

The riyal has been the currency of Saudi Arabia since the country came into being and was the currency of Hejaz before Saudi Arabia was created, one of the primary currencies in the Mediterranean region during the Ottoman era. The Hejaz riyal was based on but not equivalent to the Ottoman 20 kuru? coin and was consequently divided into 20 qirsh. However, although the Hejaz riyal was the same weight as the Ottoman 20 kuru?, it was minted in .917 fineness, compared to .830 fineness for the Ottoman coin. Thus, because the first Saudi riyal had the same specifications as the Hejaz riyal and circulated alongside Ottoman coins, it came to be worth 22 Ottoman kuru? and was consequently subdivided into 22 ghirsh when coins denominated in qirsh were issued from 1925. The system remained even though the riyal was subsequently debased to a coin equivalent, in silver content, to the Indian rupee in 1935. Read more at https://en.wikipedia.org/wiki/Saudi_riyal