Yemen bank declares destroying first issue of 200-rial banknotes

SANAA, July 31 (YPA) – The Sanaa-based central bank of Yemen declared on Thursday that it started implementing the first phase from destroying the first issue of 200-rial banknotes, which became non-tradable according to approved standards and mounted to two billion riyals.

The bank said in a statement that the step coincided with the bank’s launch of the second issue of 200-rial banknotes, in accordance with its plans to restore and rehabilitate the monetary system, preserve the purchasing power of the national currency, and enhance confidence in it and the quality of the currency in circulation.

The statement affirmed that this was based on its legal mandate to formulate and implement monetary policy and liquidity management, and its role in protecting the national economy.

It clarified that the destruction process was carried out in accordance with approved instructions and procedures, in accordance with modern environmental and security standards.

This process involved using mechanical shredding technology to shred banknotes into small, block-shaped pieces to ensure their safe disposal and prevent reuse.

The bank statement urged citizens and financial and non-financial institutions to exchange any damaged 250-riyal banknotes at the bank’s exchange centers and branches in the provinces, emphasizing the importance of preserving the national currency for a strong and sustainable monetary system.

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