The central bank issues a circular to stop the sale and purchase of currencies in Aden

The central bank issues a circular to stop the sale and purchase of currencies in Aden

The central bank issues a circular to stop the sale and purchase of currencies in Aden

A banking source for the "Al-Masdar online" said that exchange agencies in the southern city Aden have circulated a circular from the central Bank of Yemen to stop dealing in currencies without specifying the time period for the decision.

According to the source, this decision by the central Bank of Yemen comes as a preliminary step to adjust the currency at a certain level, in addition to trying to unify the currency rates in all banks.

The new governor of the central bank, Hafez Muaiad, left Aden a few days ago to sign an agreement with the Saudi side to transfer the salaries of Yemeni soldiers to the local currency, a bank source said, as government attempts to boost the local currency against foreign currency.

But the recent steps of the bank's new governor, in the eyes of economists, may not do much in the matter of controlling and strengthening the currency, as the country's vital facilities, whose revenues go to the bank's coffers such as ports and airports, remain in decline, as well as the interruption of oil and gas sales and exploration, which represents the largest tributary of the country's budget according to their description.


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