11/02/2020: Currency Devaluation
The Yemeni Rial witnessed another devaluation as the Central Bank of Yemen devalued the currency by 25% to ease foreign currency shortages and stabilize the economy.
13/10/2016: Central Bank Relocation
The internationally recognized government of Yemen relocated the Central Bank from Sana'a to Aden, causing further fragmentation in the value and availability of the Yemeni Rial.
23/06/2016: Brexit Referendum
The United Kingdom voted to leave the European Union, causing significant uncertainty and volatility in the pound sterling's value.
16/09/2015: Houthi Takeover and Currency Instability
Following the Houthi rebel's takeover of the capital Sana'a, the Yemeni Rial faced further instability, resulting in hyperinflation and a depreciation of its value.
27/09/2009: Government Decision
The Yemeni government announced a 9.3% devaluation of the rial as a measure to cope with the economic crisis and declining oil revenues.
31/12/1999: Establishment of the Euro
The euro was introduced as an electronic currency, paving the way for the eventual replacement of some national currencies, including the pound.
04/05/1994: Civil War and Currency Devaluation
During the Yemeni Civil War, the Yemeni Rial experienced a significant devaluation, with the exchange rate reaching around 200 rials for 1 US dollar.
16/09/1992: Black Wednesday
The pound sterling experienced a severe drop in value and the UK was forced to withdraw from the European Exchange Rate Mechanism (ERM).
22/05/1990: Yemeni Unification
The Yemeni Rial became the official currency of the newly unified country of Yemen after the merger of the Yemen Arab Republic (North Yemen) and People's Democratic Republic of Yemen (South Yemen).
14/02/1971: Decimalization of the Pound
The pound sterling was decimalized, with the old system of pounds, shillings and pence replaced by a decimal currency.
26/08/1948: Currency Introduction
The Yemeni Rial (YER) was first introduced as the official currency of North Yemen, replacing the Yemeni Riyal at a rate of 1 rial = 1,000 Riyals.
06/12/1921: Currency Separation with Ireland
Following the Anglo-Irish Treaty, Ireland left the United Kingdom and established its own currency, leading to separate pound sterling notes.
21/12/1816: Gold Standard Introduced
The pound sterling was officially placed on the gold standard, meaning it was backed by a fixed amount of gold.
27/07/1694: Bank of England Established
The Bank of England was founded and granted a royal charter, becoming the central bank of England.