Yemen Monitor/Newsroom:
The Central Bank of Yemen in Aden announced on Tuesday the opening of an auction to sell US$30 million, the second auction of the new year.
The Yemeni bank stipulated that bids must be submitted using the Refinitiv electronic platform. For banks that do not have access to the Refinitiv platform, the Central Bank will submit bids on their behalf based on a formal request submitted to the Central Bank via the designated email during the aforementioned auction period.
The bank also stipulated that the bid amount must be in multiples of one thousand US dollars, and the total bids submitted by each participant must not exceed 30% of the total value of the auction.
The bank stated that it will cover the accounts of banks with their correspondents abroad at their request within two working days of the auction date, and the results of the auction will be published on the same day on its website.
On January 15, the Central Bank of Aden had announced an auction to sell US$50 million, the first of its kind this year, after a months-long halt that witnessed a deterioration in the value of the Yemeni rial against foreign currencies.
This measure comes at a time when the exchange rate of the US dollar against the Yemeni rial in areas under the control of the Presidential Council has reached 2180 for sale and 2168 for purchase in today’s transactions.
