Barran Press
Exchange companies in Marib Governorate, northeastern Yemen, closed their doors on Thursday following a directive from the Central Bank of Yemen in Aden. Local and banking sources told "Barran Press" that the closure, intended to stabilize the rapidly declining Yemeni riyal, has resulted in a complete banking sector shutdown in Marib city.
The Central Bank in Aden issued the closure order on Wednesday, instructing all exchange shops in the governorate to immediately cease operations, with warnings of severe penalties for non-compliance.
Jamal Al-Haddad, executive director of Al-Khadir Exchange, noted that the closure coincided with the distribution of 70 to 80 billion Yemeni riyals, described as "King Salman's gratuity," to Yemeni army personnel in the governorate. He stated that his exchange had already halted currency trading, focusing solely on transfers and withdrawals for account holders. Al-Haddad anticipates the closure lasting at least a week.
In Taiz, southwest Yemen, exchange shops are also facing restrictions. Most are limiting their services to regular Yemeni riyal transfers, refusing foreign currency transactions. These closures and restrictions come amidst an unprecedented collapse of the Yemeni riyal, which saw the US dollar reach 2,400 riyals and the Saudi riyal hit 630 riyals on Wednesday evening.