Higher demand for small currency denominations after VAT, says SAMA

04/01/2018 Argaam

 

Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, said in a statement that higher demand for smaller currency denominations, especially five-halala and ten-halala coins, is normal due to the implementation of the new value-added tax (VAT) system.

 

Demand will remain high until the circulation of the coins increases, especially among individuals and small points of sale (POS), SAMA added.

 

Responding to news about a shortage of coins in circulation, the central bank said in a statement that all coin denominations are available for handling and circulation, including the sixth issue commemorating King Salman. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.