Yemeni rial

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Yemeni rial
ريال يمني (Arabic)
Yemeni rial.jpg
1000 Yemeni rial banknote
ISO 4217 code YER
Central bank Central Bank of Yemen
 Website www.centralbank.gov.ye
User(s)  Yemen
Inflation 12.2%
 Source The World Factbook, 2010 est.
Subunit
 1/100 fils
Symbol
Coins 1, 5, 10, 20 rials
Banknotes 50, 100, 200, 250, 500, 1000 rials

The rial or riyal is the currency of Yemen. It is technically divided into 100 fils, although coins denominated in fils have not been issued since Yemeni unification.

History[edit]

After the union between the North (the Yemen Arab Republic) and the South (the People's Democratic Republic of Yemen) in 1990, both the northern rial and the southern dinar remained legal tender during a transitional period, with 1 dinar exchanged for 26 rials. On 11 June 1996, the dinar was withdrawn from circulation. In 1993, the first coins were issued for the Republic of Yemen. The value of rial against the United States dollar has dropped significantly compared to 12.01 rials per dollar in early 1990s. Since the mid-1990s the Yemeni rial has been freely convertible. Though it has dropped from YER 20 to approximately YER 215 against the U.S. dollar since then, the rial has been stable for several years. However, since 2010 the Central Bank had to intervene several times, resulting in a serious decline of foreign reserves. By late 2013, the Economic Intelligence Unit expects reserves to decline to approximately 1.3 months of imports over the following years, despite information that Saudi Arabia would transfer $1 billion to the Yemeni Central Bank.[1]

Coins[edit]

When Yemen unified, coins had been issued in North Yemen in denominations of 1, 5, 10, 25 and 50 fils and 1 rial. The fils denominations have all disappeared from circulation. In 1993, new coins were introduced by the Central Bank of Yemen in denominations of 1 and 5 rials. These were followed by 10 rials coins in 1995 and 20 rials in 2004.

Banknotes[edit]

At the time of unification, Central Bank of Yemen notes in circulation were 1, 5, 10, 20, 50 and 100 rials. In 1993, the 1 and 5 rials notes were replaced by coins, with the same happening to the 10 rials notes in 1995. In 1996, 200 rials notes were introduced, followed by 500 rials in 1997 and 1000 rials in 1998. The 20 rials notes were replaced by coins in 2004. In addition, a 250 rial banknote was issued on November 14, 2009.[2][3]

Currently circulating banknotes
Image Value Main Colour Description
Obverse Reverse Obverse Reverse
50 YER obverse.jpg 50 YER reverse.jpg 50 rials Olive-green Bronze statue of Ma'adkarib Shibam city, Hadramaut
100 YER obverse.jpg 100 YER reverse.jpg 100 rials Purple Ancient culverts, Aden San'a
200 YER obverse.jpg 200 YER reverse.jpg 200 rials Green Alabaster sculpture Mukalla
[4] [5] 250 rials Orange & blue Al-Saleh mosque, Sana'a Mukalla
500 YER obverse.JPG 500 YER reverse.JPG 500 rials Blue Palace of the Rock Al-Muhtar mosque, Tarim
Yemeni rial.jpg 1000 YER reverse.jpg 1,000 rials Pink & green Sultan's palace in Seiyun, Hadramaut Bab Al-Yaman gate, San'a

coins[edit]

1 rial 5 rial 10 rial
1 Yemeni rial.jpg 5 Yemeni rials.jpg 10 Yemeni rials - reverse.jpg
10 Yemeni rials - obverse.jpg
Current YER exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD CNY
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD CNY
From Investing.com: AUD CAD CHF EUR GBP HKD JPY USD CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD CNY

See also[edit]

References[edit]

  1. ^ BTI 2014- Yemen Country Report
  2. ^ Yemen new 250-rial note confirmed, BanknoteNews.com. Retrieved 2011-09-06.
  3. ^ [1], BanknoteNews.com. Retrieved 2011-09-06.
  4. ^ http://banknote.ws/COLLECTION/countries/ASI/YEM/YEM0035.htm
  5. ^ http://banknote.ws/COLLECTION/countries/ASI/YEM/YEM0035.htm

External links[edit]

Yemeni rial
Preceded by:
South Yemeni dinar
Location: South Yemen
Ratio: 1 dinar = 26 rials
Note: use of rial started in 1990,
dinar was withdrawn 1996
Currency of Yemen
1990 –
Succeeded by:
Current
Preceded by:
North Yemeni rial
Location: North Yemen
Ratio: at par