Yemeni Rial (YER)

The Yemeni Rial (YER) is the official currency of Yemen. It is issued and regulated by the Central Bank of Yemen and serves as the legal tender for all transactions within the country.

The Yemeni Rial is further subdivided into smaller units known as fils, with 1 Rial being equivalent to 100 fils. However, in practical usage, fils are not commonly used, and transactions typically occur in whole Rial amounts.

Yemeni Rial is denoted by the symbol “﷼” and is used for everyday transactions, as well as for larger financial activities such as trade and investment within Yemen.

In international foreign exchange markets, the Yemeni Rial may have limited liquidity, and converting it to other currencies can pose challenges in some regions due to its restricted convertibility. This may result in difficulties for international travelers or businesses operating in Yemen.

The value of the Yemeni Rial fluctuates in the foreign exchange market and can be influenced by various factors, including geopolitical events, economic conditions, and external economic influences. In recent years, Yemen has faced significant political and economic challenges, which have impacted the stability of the Rial’s value.

It’s important for individuals or businesses engaging in transactions involving the Yemeni Rial to stay informed about current exchange rates, economic conditions, and any relevant regulations or restrictions. Due to the potential volatility and limitations associated with the Yemeni Rial, careful consideration and planning are advisable when dealing with this currency.