Houthis Mint New Coin as Yemen’s Currency War Rolls On
The Houthi-run central bank in Sanaa is giving Yemen’s battered currency a metallic makeover. Starting Sunday, a shiny new 50-rial coin will enter circulation, replacing some of the dog-eared, barely holding together paper notes still floating around in northern parts of the country under Houthi control.
The announcement came via the group’s mouthpiece, al-Masirah TV, with the central bank saying the coin is part of its plan to “find solutions to the problem of damaged banknotes and enhance the quality of national currency.” Officials insist the coin won’t shake up exchange rates or expand the overall money supply, but critics may take that with a grain of salt.
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This isn’t the Houthis’ first foray into coinage. Back in March 2024, they introduced a 100-rial coin that was immediately rejected by the internationally recognized government in Aden, which accused the Houthis of messing with Yemen’s monetary legitimacy. That coin, and now this one, highlight the economic tug-of-war that mirrors the broader political and military stalemate.
Since the civil war erupted in 2014, the Houthis have controlled much of the north, while the government, backed by international powers, remains dug in down south. The two sides don’t just fight over territory; they also each run their own central banks. Unsurprisingly, Houthi authorities have banned currency printed in Aden from entering their regions.
To ease the rollout, exchange centers across Sanaa and other Houthi-held areas will help locals swap their crumbling paper rials for the freshly minted coins. It’s a small change—literally—but in Yemen’s fractured economy, every coin has a story.
