Argentine Peso in Saudi Arabian Riyal

ARS Argentine Peso

Country of application:
Argentina

Coin denominations in circulation:
10, 20, 50, 100, 200, 500, 1000 pesos.

Denominations of banknotes in circulation:
1, 2, 5, 10 pesos.

History reference:
Currency abbreviation or currency symbol for the Argentine nuevo peso (ARS), the currency for Argentina. The Argentine song Nuevo was first seen in 1992 when it replaced the australium in the convers...ion of 1 peso to 10,000 australia. Other names for the currency include peso convertible and nuevo peso convertible. The Argentine Nuevo Peso was pegged to the US dollar from 1 peso to one dollar form from 1992 to 2001. In 2002, the peso floated and devalued by about 75%, helping to improve export competitiveness. The export boom led to a massive influx of US dollars into the Argentine economy, which led to the stabilization of the national currency. Some time later, the Central Bank announced support for a strategy to keep the exchange rate between 2.90 and 3.10 pesos to the US dollar in order to maintain export competitiveness. When necessary, the Central Bank prints pesos and buys dollars on the free market (sometimes in large quantities, in the order of 10 to 100 million US dollars a day) to protect the peso from inflation, 27,000 million US dollars have accumulated in the vaults of the Central Bank, despite spending $9,810 million in payment to the IMF in January 2006.

SAR Saudi Arabian Riyal

Country of application:
Saudi Arabia

Coin denominations in circulation:
1, 5, 10, 25, 50 halals, 1, 2 rials.

Denominations of banknotes in circulation:
1, 5, 10, 50, 100, 500 riyals.

History reference:
The Saudi riyal (riyal) has been the national currency and money of the Kingdom of Saudi Arabia since 1928, even before the creation of a single state. Independent minting of coins on the territory o...f Hijaz (the coastal western region of the Arabian Peninsula with the main Islamic centers - Mecca and Medina) began rather late - at the beginning of the 19th century. These were copper mahmoudis and silver rupees, which were minted by the sheriffs of Mecca, nominally dependent on the Sultan of the Ottoman Empire. In 1916, with the support of the British and Arab nationalists, the sheriff of Mecca, Hussein ibn Ali al-Hashimi, declared himself king of the Hijaz. He also began minting his own coins in Mecca. In addition to the minting of coins of the Ottoman type (kirsh, para and dinars), under Hussein, all silver rials-thalers were countermarked. They were minted with the word "HIJAZ" in Arabic script.