NYN | News
The Central Bank of Yemen in Sanaa has begun implementing the first phase of destroying the first-issue banknotes of the 200-riyal denomination, with a total value of two billion riyals. The notes have been deemed unfit for circulation according to established standards.
In an official statement released Thursday evening, the bank said that this step coincides with the introduction of the second issue of the same denomination. It is part of a comprehensive strategy aimed at restoring and stabilizing the monetary system, preserving the purchasing power of the Yemeni riyal, and boosting public confidence in the quality of national currency in circulation.
The bank noted that the destruction process is being carried out under strict environmental and security protocols, using mechanical shredding technology to convert the banknotes into small, compact blocks. This ensures their safe disposal and prevents any possibility of reuse.
The bank affirmed that the decision falls within its legal mandate to formulate and implement monetary policy, manage liquidity, and safeguard the national economy from the distortions caused by the circulation of damaged or expired currency.
It also urged citizens and financial institutions to exchange any damaged banknotes of denominations 250 riyals and below at its designated exchange centers in Sanaa and its provincial branches. The bank emphasized the importance of maintaining the integrity of national currency as a cornerstone of monetary and financial stability in the country.
