They are some that believe when you change a countries currency that this causes the loss of confidence in their currency. I believe just the opposite and soon as expected you will see Iraq doing the same thing. Saudi Arabia has no problem with changing their currency with just a little over three years before joining the premier GCC and starting a single currency monopoly.
JEDDAH, 5 September 2006 — Saudi Arabia will issue new currency notes and coins by the middle of next year incorporating additional security features as the Council of Ministers yesterday gave the green signal to the project.
Saudi Arabian Monetary Agency Governor Hamad Al-Sayari said the Saudi central bank would circulate the new issues by the second quarter of next Hijrah year.
“The circulation of bills and coins currently in the market will continue without any change in their values,” Sayari told Saudi Press Agency, adding that the new security features would strengthen public confidence in the currency.