North Yemeni rial

Last updated
North Yemeni rial
ريال يمني (Arabic)
1 north yemeni rial 1963 obverse.jpg
1 rial
ISO 4217
CodeYER
Subunit 0.01
Denominations
Subunit
1100 fils
Banknotes1, 5, 10, 20, 50, 100 rial
Coins1, 5, 10, 25, 50 fils, 1 rial
Demographics
User(s)Flag of the Mutawakkilite Kingdom of Yemen.svg  Kingdom of Yemen
Flag of North Yemen.svg  North Yemen
Flag of Yemen.svg  Yemen
Issuance
Central bank Central Bank of Yemen
Website www.centralbank.gov.ye
This infobox shows the latest status before this currency was rendered obsolete.

The rial or riyal was the currency of North Yemen, first the Mutawakkilite Kingdom of Yemen, then the Yemen Arab Republic. It is the predecessor to the modern Yemeni rial.

Contents

History

The Mutawakkilite Kingdom began issuing coins around the turn of the 20th century. The rial was divided into 160 zalat, 80 halala or 40 buqsha. During the reign of Imam Yahya, the first rial coins were issued. Denominations were given on coins as a fraction of the rial, with the "honorific" Imadi appearing on the coins of Imam Yahya and Ahmadi on the coins of Imam Ahmad. Consequently, the currency is sometimes referred to as the "Imadi rial" or "Ahmadi rial".

A modern-style coinage was introduced into circulation in 1963, following the establishment of the Yemen Arab Republic. The country was one of the last to adopt a decimal currency system. In 1974 the rial was divided into 100 fils , although inflation caused the fils denominations to disappear from circulation.

After the unification of Yemen, the Yemeni rial replaced the North Yemeni rial at par. Denominations issued by the Yemen Arab Republic ceased to be legal tender afterward.

Coins

In the reign of Imam Yahya (1904-1948), bronze coins were issued for the 1 zalat, 1 halala and 1 buqsha denominations, and silver coins for the 1 buqsha, 120, 110, 18, 14 and 1 rial denominations. During the reign of Imam Yahya's successor, Imam Ahmad (1948-1962), the silver 1 buqsha and 120 rial were discontinued, and 116 and 12 rial coins were introduced. Unusually, the 116 and 18 rial coins were pentagonal.

Gold coins denominated in guineas were also minted, primarily for presentation purposes.

In 1962, the Arab Republic first issued bronze 12 and 1 buqsha, 120, 110, 210 and 14 rial in a similar style to those of the last king. These were followed in 1963 by a new coinage, consisting of aluminium-bronze 12, 1, and 2 buqsha and silver 5, 10 and 20 buqsha and 1 rial coins.

In 1974, decimalized coinage was introduced, consisting of aluminium 1 fils, brass 5 and 10 fils coins, and cupro-nickel 25 and 50 fils coins. Cupro-nickel 1 rial coins followed in 1976.

Banknotes

In 1964, the government introduced North Yemen's first paper money, which consisted of 1, 5, and 10 rial notes. These were followed by 10 and 20 buqsha notes in 1966, revised 1, 5, and 10 rial notes in 1969, and 20 and 50 rial notes on 13 May 1971.

The Central Bank of Yemen was established on 27 July 1971, with its headquarters in Sana'a, the capital of the Arab Republic of Yemen. The Central Bank of Yemen absorbed the functions of the Yemen Currency Board. When the Yemen Arab Republic (North Yemen) and the Democratic Republic of Yemen (South Yemen) united on 22 May 1990 to form the Republic of Yemen, the north's Central Bank of Yemen merged with the south's Bank of Yemen, and the joint venture continued to use the name Central Bank of Yemen. [1]

Value

ValueObverseReverse
1 rial 1 north yemeni rial 1963 obverse.jpg 1 north yemeni rial 1963 reverse.jpg

Notes

  1. Linzmayer, Owen (27 January 2012). "Arab Republic of Yemen". The Banknote Book - Abyssinia - French Sudan. Vol. 1 (1st ed.). San Francisco, CA: Spink & Son#Publishing. p. 4. Archived from the original on 2018-10-03. Retrieved 2012-04-27.

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References