Yemen Monitor/Newsroom:
The Yemeni Central Bank has announced an auction for short-term and long-term domestic government debt instruments, in the form of treasury bonds with a maturity of (1 year) and (3 years) with an initial value of 15 billion riyals, and returns ranging between 18% and 20%.
The bank stated in the announcement that the minimum bid is 50 million Yemeni riyals, noting that the auction will start at 10 am on October 28 and will close at 12 noon on the same day, with an interest rate set at 20%, with interest benefiting shareholders every 6 months.
On Tuesday, the Yemeni Central Bank announced the offering of $30 million for sale in a public auction next Monday as part of its ongoing efforts to curb the decline of the national currency, with the Yemeni riyal exceeding 2000 to the US dollar.
On Monday, the Central Bank announced the sale of $25,247,000 out of $50 million offered for sale in a public auction. The bank said in a statement on its website on Sunday evening that the sale was at an exchange rate of 1965 Yemeni riyals per dollar.
The bank had offered $50 million for sale in a public auction last week after its board of directors held a meeting to discuss developments in the foreign exchange market.
This is the 13th such auction since the beginning of the year, as the national currency continues to fluctuate up and down around the 2000 riyal barrier for the second consecutive week.
