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.
15/10/2018: Government Formation
The formation of a new Iraqi government after parliamentary elections brought hopes of stability and potential economic growth, positively impacting the Iraqi dinar.
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.
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.
10/06/2014: ISIS captures Mosul
The capture of Mosul by ISIS led to a further devaluation of the Iraqi dinar and economic instability in the region.
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.
15/10/2004: Introduction of New Iraqi Dinar
A new series of banknotes with enhanced security features was introduced to replace the previous Iraqi dinar notes.
20/03/2003: US-led Invasion of Iraq
The US-led invasion led to the collapse of the Iraqi government, causing instability and a sharp decline in the value of the Iraqi dinar.
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.
02/08/1990: Iraq invades Kuwait
Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.
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).
22/09/1980: Iran-Iraq War Begins
The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.
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.
03/10/1932: Independence of Iraq
The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.