Central Bank to increase national currency's exchange rate gradually

Government: "Yemen Dawn Operation" New Phase in Struggle for Restoring State Institutions, Eliminating Houthi Coup

The Yemeni government confirmed that His Excellency President Dr. Rashad al-Alimi, Chairman of the Presidential Leadership Council (PLC) declared "Yemen Dawn Operation" based on his constitutional and legal responsibilities to protect citizens and safeguard Yemen's sovereignty over its airspace, lands and territorial waters.

Second Day of International Media Forum on Islamic Civilization Kicks Off in Tashkent

The second day of the International Media Forum “Islamic Civilization: A New Perspective – New Discoveries” commenced today, Wednesday, at the Center for Islamic Civilization in the Uzbek capital, Tashkent.

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: ، 2026/10/11 Time 07:02:01
Latest News:

Report: Houthi Militias Blamed for Demolishing 1,774 Homes, Civilian Buildings

Amb. al-Eryani Updates German Lawmaker on Developments in Yemen

Yemen's Ambassador Confers with Malaysian Official over Joint Cooperation

State Minister Discusses Houthi Escalation, Displacement Crisis with Dutch Ambassador

EU Signs Agreement Worth 10 Million Euro to Boost Climate-Resilient Agricultural Food Systems in Yemen

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.