Announcing the second “Yemeni” auction to sell foreign currencies, amid the continued decline of the “riyal”

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Today, Sunday, the Central Bank of Yemen in Aden announced the date of the second auction for the sale of foreign currencies, amid the continued decline of the riyal against foreign currencies.

In a statement published on its website, the bank stated that it intends to open an auction next Tuesday to sell the amount of fifteen million dollars.

He pointed out that the auction starts at ten in the morning and closes at twelve o’clock on the same day, provided that the amount of the bid is in multiples of one thousand dollars.

And last Tuesday, the Central Bank opened the first electronic auction to sell 15 thousand US dollars, and announced the next day the results of the accepted bids, which amounted to “eight bids with a total of eight million and 775 thousand US dollars, and the price of one dollar in the auction was 1411 Yemeni riyals.”

The bank had allocated the global “Refinitiv” platform to take over the auction process and organize the buying and selling of foreign exchange, for the banks participating in the platform, provided that “the bids submitted by each participant do not exceed three bids, and the total bids submitted do not exceed 20% of the total auction value, The participant has no right to cancel or change the bids after they have been submitted,” according to the statement.



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