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Saudi Arabia Launches Riyal Coins to Replace Banknotes

Saudi Riyal coins will be used in the future in a number of services and machinery, Asharq Al-Awsat
Saudi Riyal coins will be used in the future in a number of services and machinery, Asharq Al-Awsat
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Saudi Arabia Launches Riyal Coins to Replace Banknotes

Saudi Riyal coins will be used in the future in a number of services and machinery, Asharq Al-Awsat
Saudi Riyal coins will be used in the future in a number of services and machinery, Asharq Al-Awsat

The Saudi Arabian Monetary Authority (SAMA) will start withdrawing SR1 banknotes from the market from Thursday, SAMA has said.

In a statement, SAMA announced issuing its sixth edition, which was developed during the reign of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz with great attention and diligence, using in-depth and detailed studies on world-renowned modern techniques for manufacturing coins.

SAMA adhered to prime technical standards and designs that ensure popularity among traders.

The one-riyal coin has a portrait of King Salman in silver in the center. On the right side, the name and title of the King (Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud) are engraved in a golden frame, and on the left there is a plant motif encompassing the Kingdom’s national emblem.

According to plan, SAMA assured that paper currencies will still be traded alongside the new coins until all one riyal notes are gradually phased out across banks.

The SR1 banknotes will eventually be replaced with one-riyal coins.

In December 2016, SAMA unveiled the sixth issue of Saudi currency, including the new one-riyal and two-riyal coins, in addition to coins introduced as 50 halalah, 25 halalah, 10 halalah, 5 halalah and one halalah.

The currency will be used in the future in a number of services and machines, much like developed countries, which despite the development of monetary and financial systems, they still use currency widely, and the presence of the riyal or the main currency as a piece of metal is the usual practice in a lots of countries worldwide.

SAMA affirmed that all six categories of the currency issued are currently available at SAMA branches and banks operating in the Kingdom. If they are not easily obtained by the banks, a complaint can be made to the Customer Protection Department through SamaCares.com or by calling toll free 8001256666.

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Ships Warned to Avoid Red Sea, Log Hormuz Voyages after Israel Hits Iran

A military aircraft flies in the sky following a barrage of missiles launched from Iran, as seen over Tubas, in the Israeli-occupied West Bank, June 14, 2025. REUTERS/Raneen Sawafta
A military aircraft flies in the sky following a barrage of missiles launched from Iran, as seen over Tubas, in the Israeli-occupied West Bank, June 14, 2025. REUTERS/Raneen Sawafta
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Ships Warned to Avoid Red Sea, Log Hormuz Voyages after Israel Hits Iran

A military aircraft flies in the sky following a barrage of missiles launched from Iran, as seen over Tubas, in the Israeli-occupied West Bank, June 14, 2025. REUTERS/Raneen Sawafta
A military aircraft flies in the sky following a barrage of missiles launched from Iran, as seen over Tubas, in the Israeli-occupied West Bank, June 14, 2025. REUTERS/Raneen Sawafta

Merchant shipping is continuing to pass through the Strait of Hormuz despite Israel's attacks on Iran on Friday, the multinational, US-led Combined Maritime Force said, although some shipowners were looking to avoid the region.

Iran has in the past threatened to close the critical Strait of Hormuz to traffic in retaliation for Western pressure. Any closure of the Strait could restrict trade and impact global oil prices.

"The Strait of Hormuz remains open and commercial traffic continues to flow uninterrupted," the Combined Maritime Force said in advisory, adding that events over the past day had increased the likelihood of regional conflict to "significant".

Greece and Britain have advised their merchant shipping fleets to avoid sailing through the Gulf of Aden and to log all voyages through the Strait of Hormuz following Israel's attacks on Iran, documents seen by Reuters showed.

"We have reports that more ship owners are now exercising extra caution and are opting to stay away from the Red Sea” and the Arabian Gulf, said Jakob Larsen, chief safety & security officer with shipping association BIMCO.

If the United States is perceived to be involved in any attacks, "the risk of escalation increases significantly", Larsen said. "Such an escalation could include missile attacks on ships or laying of sea mines in the Strait (of Hormuz)."

Israel said it had targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran denies having any such plan.

"Hormuz is a critical waterway, without alternative, for tanker trades and any impediment or threat to free movement of shipping would have a significant effect upon the world’s economy," tanker shipping association INTERTANKO said.

Greek ship owners were urged to send details of their vessels sailing through the Strait of Hormuz to Greece’s maritime ministry, according to one of the documents issued by Greece's shipping association, which was sent on Friday. Greek owners control the world's biggest tanker fleet.

"Due to developments in the Middle East and the escalation of military actions in the wider region, the (Greek) Ministry of Shipping ... urgently calls on shipping companies to send ... the details of Greek-owned ships that are sailing in the maritime area of the Strait of Hormuz," the document said.

All UK-flagged vessels, which include the Gibraltar, Bermuda and Isle of Man 'red ensign' registries, were advised to avoid sailing through the southern Red Sea and the Gulf of Aden, a separate document issued by the UK's transport ministry said.

If sailing through those areas, vessels must adhere to their highest level of security measures and limit the number of crew on deck during voyages, said the advisory, seen by Reuters.

The European Union's naval mission in the Red Sea, Aspides, is continuing operations as normal but is monitoring developments in the region, an Aspides official told Reuters.