Gov’t actions taken to control currency exchange rates: Finance Minister

SANAA, Sep. 8 (YPA) – Deputy Prime Minister and Finance Minister Dr. Hussein Maqboli on Saturday said the Salvation Government took several actions to control the exchange rate by preventing the currency smuggling and the circulation of the currency printed by the exiled Hadi government.

During a meeting held in Sanaa and attended by representatives of commercial banks and Yemeni cashiers association, Dr. Maqboli stressed the importance of alleviating the economic and living burdens of citizens, especially in light of the continued aggression, which resorted to the economic war after its full inability in the military confrontation.

The deputy prime minster explained that the main reasons for the destruction of the economy and the high price of foreign exchange are the random printing of the national currency, the transfer of the Central Bank and the siege imposed on the port of Hodeidah.

He emphasized that all parties should assume their responsibility seriously to stop the decline in the riyal value and to control the exchange rate.

The meeting dealt with Yemeni riyal’s devaluation against foreign currencies and its impact on citizens’ living conditions.