Sanaa: Yemens Houthis announced yesterday, the issuing of a freshly minted 50-riyal coin. A new metal coin of 50 riyals will be put into circulation starting Sunday (tomorrow), Houthi-run al-Masirah TV reported, citing a statement by the Houthi-controlled central bank in the capital, Sanaa.
According to Nam News Network, minting the new coin comes as part of the Houthis' commitment to finding solutions to the problem of damaged banknotes and enhancing the quality of national currency. The move aims to address issues related to the wear and tear of existing paper currency and to improve the overall monetary system within the regions under their control.
The Houthis have been controlling much of northern Yemen since a civil war in Yemen broke out in late 2014. The introduction of the new coin represents one of the steps taken by the Houthi administration to stabilize and manage the economy amidst the ongoing conflict and regional instability.