Saudi Arabia announces to introduce new polymer currency

RIYADH: The Saudi Arabian Monetary Authority (SAMA) announced on Sunday that a new polymer currency in the five riyal denomination will be in circulation from Monday, October 05.

The issue of polymer notes during the era of Custodian of the Two Holy Mosques King Salman was based on Article 4 of the Saudi Monetary Law issued by an earlier royal decree.

نحو خطوة جديدة لتطوير العملة الوطنية، أصدرت #مؤسسة_النقد فئة الخمسة ريالات الجديدة والمصنوعة من مادة البوليمر.#عملة_البوليمر #SAMA pic.twitter.com/6fmAWrG5d8

— SAMA | مؤسسة النقد العربي السعودي (@SAMA_GOV) October 4, 2020

Both the designs and colors of the polymer banknotes are similar to those of the cotton five-riyal paper notes that are currently in circulation, the central bank said in a statement.

The difference is in technical specifications and security features for the new denomination.

SAMA said that the new denomination would go side by side with the five-riyal, as well as the rest of the sixth issue of paper notes, which are in circulation as legal tender.

SAMA emphasized that the new five-riyal denomination was printed according to the latest standards in the field of polymer currency printing. The note boasts of many technical specifications and high-quality security features.

Its front design includes pictures of Saudi Arabia’s King Salman; Shaybah field in the Empty Quarter, in addition to the shape of the transparent window that contains motifs inspired by the logo of Saudi Vision 2030.

The reverse of the note includes a view of wildflowers in the Kingdom in addition to the shape of the transparent window that contains motifs inspired by the logo of the Vision 2030.

It is noteworthy that polymer banknotes are banknotes made from synthetic polymer such as biaxially oriented polypropylene.