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.Me...

The Central Bank of Yemen, based in the interim capital Aden, issued a binding circular on Friday evening to all banks, exchange companies, and money changers across the country, regulating the buying and selling of foreign currency amid exceptional economic circumstanc...

Banking sources confirmed that Houthi militants have taken control of "Yemen and Gulf Bank" in the Houthi-held capital, Sanaa. The group appointed Raed Al-Shaer, nephew of the notorious former judicial custodian Saleh Al-Shaer, as the new custodian of the bank...

Dr. Rashad Mohammed Al-Alimi, President of Yemen’s Presidential Leadership Council and Supreme Commander of the Armed Forces, chaired a high-level meeting of the Supreme Security Committee in the interim capital, Aden, on Tuesday. The session was attended by Central Ban...

A severe liquidity crisis is unfolding in Sanaa and other areas under Houthi control, threatening a total collapse of the banking sector, according to local sources. All major banks and money exchange shops in the capital are reportedly suffering from a drastic cash sho...

The Central Bank of Yemen in the temporary capital, Aden, has ordered all exchange companies and money transfer networks to cease buying and selling foreign currencies. This move aims to limit the ongoing collapse of the Yemeni rial in areas under the control of the int...

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 12 individuals and entities, including the Houthi-aligned Governor of the Central Bank of Yemen, for their involvement in arms trafficking, money laundering, and the i...

Observers believe that the Iran-backed Houthi militias are increasingly constrained following the decisive actions taken by the legitimate government recently to cut off the group s sources of funding. Observers argue that these recent decisions will compel the Houthi...