Sana'a: The Central Bank of Yemen announced on Thursday the initiation of the first phase to destroy the first-issue 200-riyal banknotes, which are deemed unfit for circulation based on approved standards, totaling a value of 2 billion riyals.
According to Yemen News Agency, the Central Bank stated that this phase coincides with the release of the second issue of banknotes for the same denomination. This initiative is part of the bank's broader plans to rehabilitate and reform the monetary system, maintain the purchasing power of the national currency, and enhance confidence in both the currency and the quality of the circulating cash. These actions are rooted in the bank's legal responsibilities in formulating and implementing monetary policy, managing liquidity, and protecting the national economy.
The bank confirmed that the destruction process is executed following approved instructions and procedures, utilizing modern environmental and security standards. Mechanical shredding technology is employed to turn the banknotes into small pieces in the form of blocks, ensuring safe disposal and preventing reuse.
The Central Bank has urged citizens and financial and non-financial institutions to exchange any damaged banknotes of the 250-riyal denomination and below at exchange centers located at the bank and its branches across the governorates. The bank emphasized the importance of preserving the national currency to ensure a strong and sustainable monetary system.