Yemen Monitor / Aden / Special Report:
On Wednesday evening, the Yemeni rial recorded a significant improvement in its exchange rate against foreign currencies—marking a positive trend for the second consecutive day after weeks of sharp decline.
Banking sources reported that the dollar exchange rate fell to around 2,400 rials in evening trading, down from 2,838 rials on Tuesday. The Saudi riyal also dropped to 630 rials. Earlier in the day, the dollar was traded at 2,625 rials before declining further.
Sources attributed the rial’s recovery to recent measures by the Central Bank of Yemen in Aden, including the suspension of non-compliant exchange companies and parallel government actions focused on preparing the national budget and boosting revenues. These efforts have helped restore market confidence and curb the rapid depreciation of the local currency.
Commenting on the developments, economic journalist Wafiq Saleh stated that the recent gains highlight the importance of decisive action and control over speculation tools and market outlets.
He added, “Just as the previous surge in foreign currencies wasn’t driven by normal supply-and-demand dynamics, this latest drop reflects active intervention by the Central Bank to regulate the market.”
Saleh emphasized that sustaining this recovery depends on the consistency of regulatory measures and avoiding a return to uncontrolled speculation and informal financial networks, which had previously weakened the rial.
He pointed out that the Central Bank’s current policies focus on tightening oversight of currency trading, enforcing strict regulatory systems, and tracking all financial flows—measures that appear well-suited to the urgent challenges of the present moment.
