Aden’s Central Bank to close exchange shops

ADEN, Jan. 13 (YPA) – The Central Bank in Aden city, southern Yemen, on Wednesday directed the Money Exchange Association to close exchange shops starting from tomorrow, Thursday.

The move comes after the recent rapid collapse of the riyal price against foreign currencies.

Informed sources said that the decision is an attempt by the bank to save the currency, after it collapsed again in light of the complete inability of the Saudi-backed Hadi’s government to address the situation.

It is noteworthy that the dollar exchange rate crossed the 800 riyal barrier during the past hours.

YPA