Reuters
On Saturday, the Yemeni currency witnessed a marked improvement against the price of foreign currencies, after the announcement of the formation of the new Yemeni government, according to the Riyadh Agreement, signed between the government and the Southern Transitional Council.
The value of the Yemeni riyal, against the US dollar, reached 780 riyals on the black market in the capital, Aden, after the unprecedented deterioration in the Yemeni currency during the past months, as the exchange rate of one dollar reached more than 900 Yemeni riyals.
The Aden Money Exchange Association announced today the return of the official working hours of exchange companies in Aden, after it was limited to the morning periods during the last period, in protest against the significant decline in the Yemeni riyal at the time.
The Central Bank of Yemen confirmed, through its official website, that there is expected support that will enhance its efforts to improve the position of the national currency and stabilize prices, which rose in parallel from the depreciation of the Yemeni riyal.
Yesterday, the Yemeni presidency announced the formation of a new Yemeni government of 24 ministers, headed by the former prime minister, Moein Abdel-Malek.
The new government will consist of 24 portfolios, shared equally between the north and south, as stipulated in the Riyadh Agreement.
Source: RT
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