16 Aug 2017 / Yemen
On Monday (14 August), the Central Bank of Yemen issued a circular to all banks in the country instructing them to float the local Yemeni currency of Yemeni Rial “YR” using the market rate instead of fixed Central Bank rate. As a result, the current exchange rate of YR 250 to the one US Dollar is expected to reach more than YR 370 to the one US Dollar.
Meanwhile, according to the latest information, most ports in Yemen remain open, but Mokha, Ras Isa Marine Terminal (FSO Safer) and Balhaf LNG Terminal are closed.
For information about operations in Yemen contact GAC Yemen at [email protected]
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