Yemen Monitor / Newsroom:
The Central Bank of Yemen has confirmed the recovery of the national currency and officially approved adjustments to foreign exchange rates against the Yemeni rial, setting the rate at 410 rials for buying the Saudi riyal and 413 rials for selling, while adopting the same framework for repricing other foreign currencies.
During a meeting held today under the chairmanship of Governor Ahmed Al-Maabqi, the bank emphasized continued strict monitoring of local market activity to take appropriate measures aimed at maintaining currency and price stability for as long as possible.
The meeting also discussed ways to address the shortage of liquidity in the national currency in line with market needs and strict precautionary policies. Participants reviewed financial and economic developments, as well as the efforts of the National Committee for Financing and Organizing Imports in improving the country’s commercial and financial environment.
The bank issued a circular to commercial banks and exchange companies stipulating that the purchase of foreign currency must be conducted at a fixed exchange rate of 410 Yemeni rials per Saudi riyal, without deviation, and limited to a maximum of 2,000 Saudi riyals — or its equivalent in other foreign currencies — per transaction for each customer.
