Saudi Arabia announced to introduce Riyal coins from Thursday – Research Snipers

Saudi Arabia announced to introduce Riyal coins from Thursday

The Monetary Agency of the Kingdom of Saudi Arabia has announced to introduce Saudi Riyal coins from Thursday to moderately replace the Saudi Riyal notes, the media reports on Wednesday.

Saudi Arabian Monetary Agency (SAMA) has taken the required measures for easy dealing, including the allocation of sorting and coin counting machines to get ready for the introduction of the coins in the Kingdom.

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According to the statement by SAMA, the coins have a long life expectancy, greater resilience to counterfeiting and ease of recycling process.

The step taken by the Saudi authorities is part of a series of steps that the Saudi Kingdom is taking to promote business efficiency to meet several economic growth plans, especially huge international projects that are based in the country.