In a strongly worded statement issued from its headquarters in Aden on Saturday evening, the Yemeni Central Bank categorically rejected the announcement made by the Houthi faction regarding the launch of a new 100 Yemeni riyal coin.
The Houthis had proclaimed the imminent circulation of this coin currency, asserting that its introduction aimed to alleviate the acute liquidity crisis stemming from the widespread deterioration of paper currency in areas under their control in the northern regions of the country.
Expressing firm opposition to this initiative, the Central Bank condemned it as a “reckless and unlawful escalation,” emphasizing that it completely disregards the welfare and interests of the Yemeni people. Additionally, the Central Bank asserted that the purported currency is deemed counterfeit, given its issuance by an entity deemed “illegitimate” by the legitimate Yemeni government and international community.
Moreover, the bank reiterated its stern warning to all sectors, including institutions and individuals, against engaging in any transactions involving currency emanating from the Houthi-controlled capital of Sana’a. It underscored its determination to exercise its full legal authority to implement precautionary measures aimed at safeguarding the financial assets of citizens, as well as financial and banking institutions, from potential harm or exploitation.
The Central Bank’s unequivocal stance underscores the broader tensions surrounding the Yemeni conflict, highlighting the multifaceted economic challenges faced by the country’s populace amidst ongoing political instability and military confrontations.
