Yemen launches second phase of currency plan: 1 USD = 300 riyals
Deputy Central Bank official Mekbai announced on Saturday the start of the second phase of Yemen’s currency stabilization plan, under directives from Prime Minister Dr. Salim bin Buraik. The new phase sets the official exchange rate at 300 Yemeni riyals per US dollar.
Mekbai explained that the first phase successfully reduced market volatility and restored balance to the monetary sector. He emphasized that the government, in coordination with the Central Bank, will continue implementing its reform program to control inflation, improve citizens’ purchasing power, and restore investor confidence.
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