Harf – Yemeni Zaidi State

In 1840, the currency situation within the Zaidi Imamate of Yemen was characterized by fragmentation and external pressure, reflecting the region's political instability. The Imamate, based in the northern highlands with its capital at Sana'a, exercised only loose and contested control over the country's coastal and southern regions. Consequently, no single, unified monetary system existed. Circulation was a complex mix of domestic and foreign coinage, including locally struck silver riyals and qirsh pieces, as well as a flood of foreign coins from Ottoman, Egyptian, and various European empires, particularly the Austrian Maria Theresa thaler. This thaler was highly trusted for its consistent silver content and had become a de facto trade currency throughout the Red Sea region.

The monetary landscape was further complicated by the recent history of foreign occupation. From 1835 to 1840, the Ottoman Empire had directly occupied the key port of Al Hudaydah and parts of the Tihama coast, introducing Ottoman kurus coins into the local economy. Although the Ottomans were expelled by Zaidi forces in 1840, their currency remained in circulation, adding another layer to the already diverse mix of specie. The Imamate's own minting capabilities were limited and inconsistent, struggling to produce enough coinage to facilitate trade and assert monetary sovereignty.

This chaotic currency environment posed significant challenges for both the Imamate's authority and the regional economy. The reliance on foreign coins, especially the Maria Theresa thaler, undermined the Imam's economic control and symbolic authority, while the variable quality and exchange rates of multiple coin types created friction for merchants and taxpayers alike. The situation in 1840 thus encapsulated the Zaidi state's broader struggle: asserting centralized control in the face of internal tribal autonomy and the persistent economic influence of foreign powers vying for dominance in the waters surrounding Yemen.