Sanaa (South24)

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Today, the Houthi-controlled Central Bank in Sanaa announced the issuance of a new 100-Yemeni riyal coin, even as the Central Bank in Aden, affiliated with the Internationally Recognized Government, warned that the Sanaa regime would resort to counterfeit currency.

The Houthi Al-Masirah TV quoted the Governor of the Central Bank in Sanaa, Hashim Ismail Ali as saying that the new coin is a step to solve the problem of damaged coins that has caused a crisis in Houthi-controlled areas.

The Houthi-appointed official said: "The circulation of the 100 riyal coin will begin tomorrow and we will open exchange stations operating around the clock to replace damaged 100 riyal coins."

محافظ البنك المركزي اليمني- المركز الرئيسي صنعاء يعلن عن إصدار عملة معدنية من فئة 100 ريال

أعلن محافظ البنك المركزي اليمني هاشم إسماعيل، عن إصدار عملة معدنية من فئة 100 ريال، والتي سيبدأ تداولها ابتداء من يوم غد الأحد الـ 21 من شهر رمضان 1445هـ الموافق 31 مارس 2024م. pic.twitter.com/DqaZfRTO7C

— البنك المركزي اليمني | CBY (@CBY_YE) March 30, 2024

On Thursday (March 28), Aden's Central Bank had warned that the Houthis would print a “counterfeit currency” of the Yemeni riyal.

"We warn all citizens, financial and banking institutions, and commercial sectors against dealing with or accepting counterfeit currency issued by the Houthis in Sanaa," the statement said.

"The solution to the liquidity crisis and replacing the damaged coins lies in lifting the Houthi ban on the circulation of the national currency in its various denominations and editions," it added.

For years, the Houthis have banned the circulation of new currency bills of the Yemeni riyal that the recognized government printed without foreign exchange cover, causing a monetary division nationwide.

Read more: Central Bank Financial Unified Network, Explained

As a result, a large portion of the cash stock in Houthi-controlled areas was damaged.