Saudi Arabia unveiled a new currency symbol for its riyal on February 20, marking a historic move to strengthen the national currency's identity, the Saudi Central Bank (SAMA) announced.

The new symbol, designed to international technical standards, incorporates the word "Riyal" in Arabic calligraphy, reflecting the kingdom's cultural heritage while aligning with global currency symbol conventions.

"This initiative aims to promote Saudi Arabia's financial identity locally, regionally and internationally. It reinforces national identity and cultural belonging, highlights the role of the national currency and showcases the Kingdom among major global economies and G20 members," said SAMA Governor Ayman Al Sayari.

The central bank will begin implementing the new symbol immediately, with a gradual rollout across financial and commercial transactions in coordination with the relevant official authorities, Al Sayari added.

The launch aligns with Saudi Arabia's Vision 2030 economic transformation programme and aims to reinforce the kingdom's growing role in the global financial system, according to the Saudi Press Agency.

SAMA said that the symbol has been designed to meet the highest technical standards applied globally for recognised currency symbols, ensuring ease of display, use and recognition as Saudi Arabia's official currency marker.

The new symbol will represent the Saudi riyal in all financial and commercial transactions, strengthening its representation in local, regional and international contexts.