EFTA Document EFTA01379418

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Saudi Arabia The Saudi Arabian riyal (SAR) was introduced in 1961, replacing Saudi silver coins and foreign currencies. Until 1986 the currency displayed some flexibility with the SAR initially appreciating after the first oil price spike in the mid-1970s. The currency weakened steadily through the early 1980s until being pegged to the IMF's Special Drawing Rights (SDRs) in 1986. In practice, the SAR has been a de-facto