Central Bank to increase national currency's exchange rate gradually

Ministry of Human Rights Holds Houthi Militias Responsible for Death of UN Employee in Militias' Detention

The Ministry of Human Rights held the Iranian-backed Houthi terrorist militias fully responsible for the death of Mohammed Ibrahim al-Shami, an employee of the United Nations High Commissioner for Human Rights, following his kidnapping, enforced disappearance, and death in their detention.

GCC Secretary-General Welcomes UN Security Council’s Position on Houthi Attacks Against Saudi Arabia

The Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi has expressed his appreciation for the position conveyed by members of the United Nations Security Council in their presidential statement regarding the attacks carried out by the Houthi terrorist militia against the Kingdom of Saudi Arabia.

Brent Crude Futures Rise 12 Cents

Oil prices remained mostly unchanged in early Asian trading on Thursday following gains from the previous session and a sharp monthly increase.

Al Nassr Beat Al Fateh 3-0 in Saudi Football League

Al Nassr defeated Al Fateh 3-0 in the opening round of the Saudi Pro League, known as the Roshn Saudi League.

Last Update: ، 2026/11/01 Time 08:47:43
Latest News:

Yemen Condoles Italy Over Military Helicopter Crash Victims

Coalition: Hostile Drone Intercepted and Destroyed over Riyadh Region

King Salman Humanitarian Center Signs Agreement to Support Yemeni Refugees in Djibouti

Woman Killed, Five Civilians Injured in Houthi Shelling and Sniper Attacks in Taiz

Foreign Minister Discusses Developments in Yemen with US Assistant Secretary of State

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.