Top Stories A noticeable recovery in the value of the Yemeni riyal

A noticeable recovery in the value of the Yemeni riyal





Today, Thursday, foreign exchange rates witnessed a major collapse against the Yemeni riyal, after announcing a new Saudi-Emirati support exceeding 3 billion dollars.

Banking sources told Al-Sahwa Net that the Yemeni riyal recovered more than 30% of its value during the past hours, after the formation of a presidential council and the announcement of new Saudi-Emirati support for the Central Bank of Yemen.

The sources added that the value of the US dollar fell to 678 Yemeni riyals for purchase and 754 Yemeni riyals for sale, after it was yesterday evening, Wednesday, that the US dollar exchange rate reached 1136 Yemeni riyals.

The same sources confirmed, in the context of their statements to Al-Sahwa Net, that the value of the Saudi riyal fell to 180 Yemeni riyals for purchase and 200 Yemeni riyals for sale, after it was yesterday evening, Wednesday, that the Saudi riyal exchange rate reached 320 Yemeni riyals.

In the context, local sources told “Al-Sahwa Net” that the exchange companies and facilities in Aden halted today, Thursday, April 7, 2022 AD, the sale of foreign currencies completely, following the collapse of the foreign currency.

The sources pointed out that all companies completely refused to sell foreign currencies to customers under any justification, and contented themselves with the purchase process only from citizens in an attempt to withdraw the largest amount of cash in the market.

This significant recovery of the Yemeni riyal came hours after the announcement of the formation of a presidential leadership council in the country and the transfer of Yemeni President Abd Rabbuh Mansour Hadi to it in full, in addition to Saudi Arabia’s announcement to provide 3 billion US dollars in support of Yemen, including two billion riyals equally between it and the UAE in support of the Central Bank of Yemen.

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