Start of issuance of local silver coins, dated AH1344, in the standard of the Maria Theresia Thaler: - Usually referred to as "Imadi Riyal" (under Imam Yahya) or "Ahmadi Riyal" (under Imam Ahmad).
Time Period: 1964- (AH:1383- )
Currency: Yemenite Riyal
Transition
-
Sub-units
Riyal / 40 Buqsha (1964-1975) Riyal / 100 Fils (1975-)
ISO4217
YER
Timeline
03.02.1964
AH:20.09.1383
Law [No. 6] on the establishment of the Yemen Currency Board and creation of a national currency; effective upon constitution of the board on 05.1964
08.05.1964
Start of issuance of the new currency
08.03.1965
AH:06.05.1384
Law [No. 6] on the demonetization of the (international and local) Maria Theresia Thaler; effective 30.04.1964: - Could be exchanged at a rate of 1 Thaler = 1 Yemenite Riyal (corresponding to the bullion value), their use in payments was forbidden after 01.05.1965.
27.07.1971
AH:04.06.1391
Law [Nr. 4] on the transformation of the currency board into the Central Bank of Yemen; effective upon constitution of the bank on ??.??.1971
??.11.1973
Government resolution on the decimalization of the sub-unit; effective immediately: - 01.04.1975: Start of issuance of the new decimal subsidiary coins (planned for January 1974), the non-decimal coins and banknotes were not demonetized (?).
1990-1996
Unification of the North and South Yemenite currencies: - 19.02.1990: North Yemenite law on the unification - 04.05.1990: South Yemenite law on the unification - 04.05.1990: Central bank resolution on the exchange rate of the South Yemenite currency as 1 South Yemenite Dinar = 26 Yemenite Riyals - 01.07.1990 (AH:09.12.1410): Start of issuance of the new banknotes and coins< - 31.12.1994: Demonetization of the pre-unification currencies in former North and South Yemen (extended to 01.06.1996 in the South).
Valuation Regimes
1964-1967
Fixed rate against British Pound
1967-1996
Fixed rate against US Dollar
1996-2016
Variable rate
2016-
Fixed rate against US Dollar. De facto inoperative and superseded by market rates which differ in the area of the civil war opponents. The Aden subsidiary of the central bank began to publish a separate market rate in November 2021 which is based on weekly currency auctions.
Rate Arrangements
08.05.1964
Fixed
British Pound at 1 : 3 - [Gold parity] 829.43mg AU fine