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YCB decides US dollar exchange rate at 506 (YR)

[14/07/2019 12:31]

ADEN-SABA
Central Bank of Yemen (CBY) in the temporary capital Aden has approved on Sunday to provide foreign currency cash for importing basic commodities at exchange rate 506 Yemen Rial (YR) for 1$.

A statement issued by the CBY seen by the Yemeni News Agency (Saba) reads" This measure has been taken to ensure basic commodity supplies in the Yemeni markets at accessible prices".

The statement added" The measure was adopt due to the continuous speculation over currency by Iran-aligned Houthi militia, black-market speculators and the Houthi militia's committees charged destroying the economy who destabilized the currency, created concerns and anxiety in the market".

The CBY and Economic Committee held Houthi militia accountable for currency slide down , increasing prices and black market booming .