Look: Saudi Arabia now has Riyal symbol; takes inspiration from Arabic calligraphy

Saudi Arabia's King Salman bin Abdulaziz Al Saud approved the new Riyal symbol, the Saudi Press Agency (SPA) reported.

The new Saudi Riyal symbol is inspired by Arabic calligraphy and embodies the Kingdom's rich cultural heritage.

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The implementation of the new symbol will be gradual for financial and commercial transactions, with co-ordination across all relevant entities, Saudi Central Bank governor Ayman Al Sayari, said.

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Al Sayari said that this decision reinforces Saudi Arabia's financial identity locally, regionally and internationally and the initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members.

Check out the new symbol below:

The initiative also signifies the increasingly important role of the national currency in the global financial ecosystem, he added.