Saudi and UAE Supports Saves Yemeni Riyal

November 8, 2018

The Yemeni government has taken some measures and made arrangements aimed to alleviate the burdens of absorbing and living the effects of war with the backing and support of Saudi Arabia and UAE while Moain Abdul Malik Saeed, the Prime Minister held an elaborate meeting with the members of Chamber of Commerce in Aden for discussing the steps which are expected to be taken for surrounding the increasing prices, Yemeni Riyal have seen a significance of improvement in recent days in the face of the other foreign currencies which is after having lost its value in the past few months.

In the latest publication that has been issued by the Exchange shops in the interim capital of Aden the dollar value dropped from 730 riyals to 600 Yemeni riyals and also Saudi Riyal from 190 to 150 riyals.
The recovery will come after the urgent and swift intervention by Arab alliance countries since Saudi Arabia have announced the deposit of $200 million to Yemen central bank for supporting the value of riyal along with the additional support power plants with petroleum derivatives every year that will save over $60 million to the central bank of Yemen treasury every month.
The United Arab Emirates and Saudi Arabia have also sponsored around $70 million in equal pay for supporting the salaries of teachers in Yemen by cooperating with UNICEF and UN that contributed to filing the state treasury hard currency and also had an effect on the improvement of Yemeni riyal exchange rate.
Mohammad Zemam, the Central Bank of Yemen Governor have said that the bank has agreed last week to withdraw 3 batches of Saudi deposit for a total of 170million dollars that represents the 4th and 5th installments and also the arrears for 2nd and 3rd payments.
Yemeni journalist Yousry Al-Athouri have said that the exchange rate in Yemen is decreasing with time and this will show that demand for foreign currency have decreased to a great extend for various reasons.