Saudi joins rarefied league of nations with a currency symbol

Saudi Arabia has joined the short list of countries with a dedicated symbol for their currencies, and possibly the first that launched with a glitzy video.

The new design, a stylised version of the Arabic letters in “riyal,” will take its place alongside the $ and £, and less well-known ones like ₺ (the Turkish lira symbol, introduced in 2012) and ₾ (the Georgian lari, since 2014).

Officials say the symbol will reinforce Saudi financial and national identity. For most, it will only really have arrived when it starts to show up on price tags, banknotes, and keyboards. It remains to be seen if other countries using riyals try to adopt it too, just as the $ is used for non-US dollars.