Barran Press
On Monday, October 28, 2024, the Yemeni Central Bank, based in the temporary capital of Aden, announced the results of its 13th public auction for the year, aiming to sell a total of $30 million.
According to a statement published on its official website & reviewed by Barran Press, the Central Bank successfully sold $18.4 million from the total amount offered at an exchange rate of 2007 Yemeni riyals per US dollar.
The bank reported that five participants took part in the auction, with a total of 11 bids submitted, all of which were accepted. This resulted in a coverage rate of 62%.
This auction marks the Central Bank's third currency sale since the beginning of the year, following a three-month hiatus. It is also the 25th auction 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 exchange rate for the US dollar reached 2094 riyals for selling and 2036 riyals for buying, according to Barran Press banking sources in Aden.