Amidst Continued Yemeni Rial Decline, Central Bank Announces First Auction Results of the New Year
Yemen Monitor/Newsroom:
The Central Bank of Yemen in the temporary capital, Aden, announced today, Monday, the results of the first auction of the current year to sell $50 million, amid the continued decline of the Yemeni Rial.
In a statement, the bank confirmed the sale of $30,819,000 out of the total $50 million offered in the auction, at an exchange rate of 2143 Yemeni Rials for every US dollar.
It indicated that “5 participants submitted bids for auction number 1/2025 to sell $50 million, and the number of bids submitted reached 12, all of which were accepted.”
It noted that the percentage of bids submitted from the auction amount reached 62%, while the percentage of accepted bids from the total bids submitted reached 100%.
In the same context, banking sources said that the Yemeni Rial suffered a new loss against foreign currencies, indicating that the purchase value of the US dollar and the Saudi Riyal reached 2189 and 572 Yemeni Rials, respectively, today, Monday.
It is worth noting that the Yemeni currency has witnessed a continuous decline in its value since July of last year.
