Barran Press
The Central Bank of Yemen in Aden, the country's temporary capital, announced the results of its twelfth auction for 2024 on Sunday, where it offered $50 million for sale.
According to a statement on the bank's official website & seen by Barran Press, a total of $25.247 million was sold at an exchange rate of 1,965 rials per U.S. dollar.
The bank reported that seven participants submitted bids for the auction, with a total of 17 offers accepted, indicating a coverage rate of 50%.
This auction marks the second held by the Central Bank since resuming operations after a three-month hiatus and the twenty-fourth since Saudi Arabia pledged $1.2 billion to support the Yemeni economy and stabilize the national currency on August 1.
The announcement of the auction results comes as the U.S. dollar was trading at 2,004 rials for sale and 1,992 rials for purchase on Sunday, according to banking sources.