Yemen Monitor – Newsroom:
Yemeni Prime Minister Salem Saleh bin Buraik has directed the Ministry of Industry and Trade, in coordination with relevant ministries and local authorities in Aden and other liberated governorates, to form field teams and launch inspection campaigns to control commodity and food prices in line with the significant improvement in the national currency’s exchange rate.
The Prime Minister emphasized the obligation of all merchants and suppliers of basic and consumer goods to review and lower their prices in accordance with the recent decline in exchange rates. He urged them to ease the burden on citizens, consider the humanitarian situation, and act with ethical and national responsibility to reduce suffering.
He stressed that the stabilization of the Yemeni rial must be matched by a proportional decrease in food and consumer prices.
A government source stated that the government’s policy aims to protect citizens’ interests while also supporting and developing the private sector. The source noted that improving the economy and enhancing resources is a shared responsibility needed to overcome the severe crisis.
Earlier on Thursday, the Yemeni rial recorded a notable recovery against foreign currencies in the interim capital, Aden, and other government-controlled governorates, following direct interventions by the Central Bank to stabilize the exchange market.
According to banking sources cited by Yemen Monitor, the Saudi riyal was being bought at 532 Yemeni rials and sold at 535 by Thursday evening—an unprecedented leap in recent months.
This development follows a decision by the Central Bank in Aden to issue binding instructions to exchange companies, setting a purchase cap for the Saudi riyal at 535 and a selling cap at 538, as part of a broader package of measures to regulate the market and stabilize the local currency.
Additionally, Central Bank Governor Ahmed Ghaleb announced the completion of the banking system transfer to Aden, the activation of the procurement committee, and intensified oversight of the currency exchange market.
