Living and Trading in YER: FX Guide to Yemen
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Yemen with the Yemeni rial
What's in this Yemen currency guide?
What currency is used in Yemen?
The official currency of Yemen (country code: YE) is the Yemeni rial, with symbol ﷼ and currency code YER.
Loading rates...
|
|
|
Frequently Asked Questions
What currency should I use in Yemen?
The domestic currency in Yemen is the Yemeni rial.
What is the Yemeni rial currency code and symbol?
The three letter currency code for the Yemeni rial is YER — symbol is ﷼.
Which countries use the Yemeni rial?
It is the domestic currency in Yemen.
Is the Yemeni rial a closed currency?
No, the Yemeni rial is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and YER?
Here are some popular conversion amounts for USD to YER (US dollar to Yemeni rial)*.
*Converted at the current USDYER interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Yemeni rial
Here are some things you might want to know about the Yemeni rial:
- The Yemeni rial is the official currency of Yemen. It is represented by the symbol "﷼" and is abbreviated as YER.
- The rial has been the currency of Yemen since 1990, when it replaced the Yemeni dinar.
- The value of the rial has fluctuated over time, due to factors such as inflation and economic instability in the country.
- The physical currency consists of coins and banknotes. The coins come in denominations of 1, 5, 10, and 20 rials. The banknotes come in denominations of 50 rials, 100 rials, 200 rials, 500 rials, and 1,000 rials.
- The banknotes feature images of famous Yemeni historical figures, such as Ali Abdullah Saleh and Ahmad bin Yahya. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for Yemen
Using Wise for Yemeni rial travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Yemeni rial otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Yemeni rial cash before departure, you can save money by ordering online. You generally get better rates and can pick up the YER cash locally or even on travel day at the airport.
Today, travellers do not have the privilege of visiting, as the country is in crisis, with civil war taking a desperate toll on most of the population. Needless to say, it is not safe to travel there. Yemen is a difficult country to get around, but the rewards for the persevering visitor are an unforgettable experience, populated with very friendly and open hosts. Despite being adjacent to Saudi Arabia and on the same peninsula as the United Arab Emirates, Yemen is definitely a place apart. However, the country is embroiled in civil war and the situation on the ground continues to deteriorate.
The impressive grand mosques that grace each Peninsula capital city are often open to non-Muslims. A mosque tour can be inspirational in terms of cultural insights.
Is it safe to travel in Yemen?
Anyone entering the country should try to keep up-to-date on the exact security situation of their intended destinations and be prepared to change plans if the situation mandates it. Terrorist groups continue to plot and conduct attacks in Yemen and may attack with little or no warning, targeting tourist locations, transportation hubs, markets/shopping malls, and local government facilities.Gay and Lesbian visitors are unlikely to encounter outright prejudice or harassment so long as they remain discreet. However, this may well change if you become involved with a local. Room sharing is generally not a problem (it will be assumed you're economising). The public consumption of alcohol is punishable under Islamic law in Yemen. Tap water should be avoided. To stay safe, it is recommended to stick to the bottled variety.
ATMs are rare in Yemen, if you want to find one you will want to look in the large cities as you there are almost none outside of them.
USD/YER Market Data
The below interactive chart displays the USD/YER change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Yemen - Best Rates
To get a good (and fair) exchange rate when sending money to Yemen you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Yemen
When sending money to Yemen it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Yemeni rial amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted YER amount will be transfered to the recipient account you specify in Yemen.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Yemeni rial deposited into the recipient bank account and less margins and fees kept by the banks!