Yemeni Rial - YER

DEFINITION of 'Yemeni Rial - YER'

The official currency of the country of Yemen. The Yemeni Rial is divided into 100 fils, but the fil coins have not been issued since 1990 following Yemeni unification. However, beginning in 1993, the Central Bank of Yemen began introducing coins in one-, five-, 10- and 20-rial denominations.

BREAKING DOWN 'Yemeni Rial - YER'

Following Yemeni unification, both the currencies of the Yemen Arab Republic (northern rial) and the People's Democratic Republic of Yemen (southern dinar) remained in circulation as legal tender. However, in 1996 the dinar was officially taken out of circulation leaving the rial as the nation's legal currency.

RELATED TERMS
  1. IRR (Iranian Rial)

    The currency abbreviation or currency symbol for the Iranian ...
  2. IRR

    The currency abbreviation or currency symbol for the Iranian ...
  3. OMR (Oman Rial)

    The currency abbreviation or currency symbol for the Oman rial ...
  4. Oman Rial - OMR

    The currency of Oman. The Omani rial is broken into smaller units, ...
  5. JOD

    The currency abbreviation or currency symbol for the Jordanian ...
  6. JOD (Jordanian Dinar)

    The currency abbreviation or currency symbol for the Jordanian ...
Related Articles
  1. Economics

    How Violence In Yemen Has Affected Oil Prices

    Oil prices have been dropping significantly over the past year due to an abundance of supply and weaker global demand.
  2. Forex Fundamentals

    The 6 Strongest Currencies Vs. The U.S. Dollar in 2016

    Learn about the world currencies that are stronger than the U.S. dollar, as of February 2016, as well as which factors have contributed to the dollar's strength.
  3. Savings

    Teaching Financial Literacy To Kids: What Is Money?

    Teach your kids what money is and how it works, from bartering, to cash and coin to the concept of credit.
  4. Forex Education

    "God-less" Presidential Dollar Coins

    The government has made its share of mistakes when it comes to printing money, and the results are collector's items.
  5. Forex Education

    The History Of Money: From Barter To Banknotes

    Money has been a part of human history for at least 3,000 years. Learn how it evolved.
  6. Forex Education

    History Of Coinage In The U.S.

    From the barter system to commemorative coins, we look at the history of U.S. money.
  7. Economics

    How Currency Works

    Currency offers key advantages over economies based on direct trade. It provides sellers with a broader market for their goods and services, and provides a durable asset with which people can ...
  8. Personal Finance

    The Currency Board: Understanding The Government's Bank

    Currency board, central bank - what's the difference? Find out more about this little-known monetary authority.
  9. Forex Education

    The History Of Money: Currency Wars

    Find out how conflicts have changed the role money plays in our lives.
  10. Forex Education

    Missing "Clad" Layer

    The government has made its share of mistakes when it comes to printing money, and the results are collector's items.
RELATED FAQS
  1. Can I invest in gold or silver with my Roth IRA?

    Learn how you can purchase gold coins and bars with your Roth IRA, or how you can diversify part of your assets by purchasing ... Read Answer >>
  2. Is there a world currency? If so, what is it?

    There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has ... Read Answer >>
  3. What is the difference between fiat money and legal tender?

    Learn more about fiat currency and legal tender. Find out how these terms are used by economists to describe different types ... Read Answer >>
  4. How did George Soros "break the Bank of England"?

    In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn't actually ... Read Answer >>
  5. What is continuously compounding interest?

    Read a quick explanation of continuously compounding interest rates, why compounding matters and how to calculate the continuous ... Read Answer >>
  6. What is foreign exchange?

    Foreign exchange, or Forex, is the conversion of one country's currency into that of another. In a free economy, a country's ... Read Answer >>
Hot Definitions
  1. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  2. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  3. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  4. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  5. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  6. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
Trading Center