YEMEN

(YER) Currency News >>

CURRENCY:

Yemeni Riyal - YER

DENOMINATIONS:

NOTE: YER1,000, 500, 200, 100, 50 and 20.

COIN: YER10, 5 and 1.

Please note that this currency is tied to the US dollar.

US DOLLAR ACCEPTED:

N/A

CREDIT/DEBIT CARDS AND ATMS:

Credit cards do not have a wide acceptance in Yemen and there are not many ATM machines.

CURRENCY EXCHANGE:

Available at banks, bureaux de change and hotels. Easiest to change are US dollars.

TRAVELLER'S CHEQUES:

Accepted at some banks and hotels, and are best in Sterling.

BANKING HOURS:

Sat-Wed 0830-1200. Thurs 0800-1130.

CURRENCY RESTRICTIONS:

Import and export of local currency is prohibited.

COUNTRY OVERVIEW:

Yemen is officially called the Republic of Yemen and is located on the Arab Peninsula in Southwest Asia. It is the only republic on the Peninsua. The capital is Sana'a and the official language is Arabic.

POPULATION:

Around 23 million.

ECONOMY:

Yemen relies on the oil trade and therefore is in a precarious position as oil resources are declining. Oil provides around 90 per cent of the country's exports. According to official predictions, the oil and gas revenues in Yemen will fall sharply and supplies may run out by 2017. This may cause stability in the region to be put into a risky position. Economic reform is therefore being implemented, so that areas not centred around oil can be used.