The Saudi Arabian riyal is the official currency of Saudi Arabia, divided into 100 halalas. It is issued by the Saudi Arabian Monetary Agency. Banknotes are available in 1, 5, 10, 50, 100, and 500 riyals, with coins in 1, 5, 10, 25, and 50 halalas, and 1 and 2 riyals. The riyal has been Saudi Arabia's currency since its establishment and was also used during the Ottoman era. In 1960, the riyal system changed and halala coins were introduced, though they are no longer issued. Since 1986, the riyal has been pegged to the US dollar at a fixed rate of 1 US dollar = 3.75 riyals, a rate established in 2003.