To control exchange rates … Aden Central is preparing to freeze the activity of 100 exchange facilities

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Banking sources in Aden revealed that, based on government directives, the Central Bank of Yemen is in the process of freezing the activities of more than 100 companies and exchange facilities in Aden in the coming days.

The sources said that the Central Bank of Aden is preparing to freeze the work of two-thirds of the approved and licensed exchange companies and facilities, limit the banking activity of exchange companies and facilities to one-third of these companies, and freeze the other two-thirds.

She added that there are government directives to freeze the activity of a large part of these companies and facilities that contributed greatly to the deterioration of the local currency by dominating the decision to set exchange rates and manipulating the purchasing value of the national currency, through hoarding and keeping hard currency and selling it to major importers with large profit margins that contributed mainly Allowing speculative operations and manipulation of exchange rates.

The sources concluded that these measures will now include the capital, Aden, and are expected to be circulated to all governorates in the liberated areas during the coming period.

It is noteworthy that the exchange rates in Aden and the liberated areas have recently risen in an unprecedented crazy way, as the exchange rate of the US dollar exceeded the barrier of 1280 riyals, while the exchange rate of the Saudi riyal reached 340 Yemeni riyals, which led to an increase in the prices of basic commodities and services whose prices have risen. Very frighteningly, it confirms the occurrence of a humanitarian catastrophe in the liberated areas completely.



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