After the scandal.. Dollar rises 20 riyals in hours and demands to expose the volume of corruption in the bank

After the scandal.. Dollar rises 20 riyals in hours and demands to expose the volume of corruption in the bank


The dollar rose to 560 riyals on the black market, rising 20 riyals in just a matter of hours, while Yemenis asked the Economic Commission to disclose the extent of corruption in the central bank of Yemen.

The Economic Commission and a source at the central bank told Al-Masdar online earlier that the governor of the bank, Mohammed Zamam, and other officials, were speculating in the local currency, causing it to collapse again after improvement for days.

The Economic Commission said in a note that the volume of the difference between the sale and purchase amounted to losses to the central bank by 9 billion riyals last November, the volume of losses in the sale and purchase of the Saudi Riyal.

These funds belong to bank officials and exchange companies that are complicit or may be owned by them.

Yemenis urged the Economic Commission to disclose the amount of money earned by the governor and his loyal officials since he received the bank's management, and the extent of the differences over the past three months, in terms of buying and selling Saudi riyals, dollars, and other currencies.

In conjunction with the bank scandal, the Yemeni rial collapsed in front of foreign exchange, and until the moment the exchange rate for the dollar reached 560 riyals, while the Saudi riyal reached 147 after being stable at 130.

This comes at a time when trade and Industry Minister Mohamed al-Maytami said 22 million Yemenis out of 29 million are not insured, including 12 million people threatened by deadly famine.

In a speech delivered on Sunday during the Arab Economic and Social Development Summit at its fourth session, he said that domestic output shrank by more than half its value and millions of labors force lost their jobs, which resulted in more than 80% of the labor force without work and income.


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