Central Bank to increase national currency's exchange rate gradually

UK Warns of Dangerous Houthi Escalation, Reaffirms Commitment to Yemen’s Sovereignty

The United Kingdom has warned of a dangerous escalation by the Iranian-backed Houthi terrorist militias, stressing that their recent attacks have further worsened Yemen’s already dire humanitarian situation and reaffirming its steadfast commitment to Yemen’s sovereignty and security, Saudi Arabia’s security, and regional stability.

UN Warns of Consequences of Rising Violence, Settlement Activity in West Bank

UN Deputy Special Coordinator for the Middle East Peace Process Ramiz Alakbarov warned Wednesday of the consequences of escalating violence and settlement activity in the occupied West Bank.

Gold Edges Higher Ahead of U.S. Jobs Data

Gold prices edged higher on Tuesday as investors awaited a series of U.S. labor market reports for fresh signals on the future path of U.S. interest rates.

England Claim FIFA World Cup 2026 Bronze with Victory over France

England secured third place at the 2026 FIFA World Cup after defeating France 6-4 in the third-place playoff on Saturday.

Last Update: ، 2026/08/15 Time 09:13:51
Latest News:

A3 Reaffirms Support for Yemen’s Sovereignty, Unity and Territorial Integrity

Pakistan: Houthi Attacks Threaten Regional Security, Freedom of Navigation and Global Commerce

National Commission Investigates Houthi Attacks on Mokha Port and City

Yemen Condemns Escalating Israeli Settler Attacks on Palestinians in West Bank

Bahrain Urges Security Council to Take Firm Action Against Houthis, Reaffirms Support for Presidential ..

Central Bank to increase national currency's exchange rate gradually

[18/01/2018 05:32]

ADEN-SABA
The Central Bank of Yemen has decided to gradually increase the exchange rate for the national currency, Riyal, to foreign currencies and issue a daily rate update starting from next week.

The CBY made the decision in a meeting with representative of money exchange businesses in the temporary capital Aden on Thursday, a day after king Salman bin Abdulaziz Al Saudi of Saudi Arabia ordered the deposit of a $2 billion into the CBY to shore up the Rial.

The Riyal traded at roughly 500 to the dollar before the Saudi deposit, compared to 214 versus the dollar before the Houthis unleashed the devastating war in 2015.

The CBY's governor, Munassar al-Quo'ayti, decided to create a department for overseeing the exchange rate and ascertaining the compliance of money exchange businesses with the pertinent laws and regulations.

He said that there are a package of measures under the Economic Recovery plan to secure the imports that prompt most the demand on hard currencies.