Exceptional efforts being exerted to stop Riyal decline, says Govt spokesman

Al-Arada Discusses Latest Developments with U.S. Ambassador

Member of the Presidential Leadership Council General Sultan al-Arada discussed Wednesday, via videoconference, with the Ambassador of the United States to Yemen Steven Fagin latest developments of the political and military situation on the national scene.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

African Development Bank supports transport infrastructure in Somalia with $76 million

The African Development Bank has approved additional funding of $76.37 million for the road infrastructure program in Somalia, which is a key component of the Horn of Africa Corridor project connecting Somalia, Djibouti, and Ethiopia.

CAF Unveils Official Mascot for 2025 Africa Cup of Nations in Morocco

The Confederation of African Football (CAF) and the Local Organizing Committee unveiled the official mascot for the 2025 Africa Cup of Nations in Morocco, named "Asad" (Lion), embodying a symbol of African pride and passion for football.

Last Update: ، 2025/12/18 Time 06:01:58
Latest News:

Al-Arada Discusses Latest Developments with U.S. Ambassador

National Authority Condemns Houthi Death Sentences Against 3 Abductees

Major General Al-Zubaidi follows up on projects implemented to enhance water resources

Ambassador Al-Maitami Participates in Diplomatic Visit to Jilin Province

Leadership Council Member Maj. General al-Zubaid highlights importance of boosting role of Local Administration ..

Exceptional efforts being exerted to stop Riyal decline, says Govt spokesman

[16/01/2018 02:24]

ADEN-SABA
The spokesman of the Yemeni government said on Monday that "the presidency, the Cabinet, the Central Bank and the other competent bodies of the state are exerting exceptional efforts to stop the unacceptable decline" of the Yemeni currency, Riyal.

The Riyal has been going a steady decline since the Houthi radical rebelsplunged Yemen into a devastating war in March 2015, but this month the Riyal dramatically plummeted to about $500 to the dollar, an all-time low.

Spokesman Rajeh Badi told the state-run news agency Saba the remedial measures being devised will be "effective"; they will include "intensifying communications" to expedite the placement of a Saudi pledged deposit in Yemen's Central Bank.

Badi said the coupist Houthis seized Yemen's foreign cash reserves, USD 5 billion before the coup d'état. They " also seized two trillion Yemeni Rials that was in the (Central Bank(," he said. He noted that the militia uses these amounts in currency speculations "which multiplies uncertainty and devalues the Yemeni Riyal."

Badi says that another cause of decline is what the government and international authorities have as an authenticated information - "the persistent counterfeiting of the Yemeni currency by Iranian agencies."