The Board of Directors of the Central Bank of Yemen concluded, this evening, Thursday, the work of its tenth session, which extended for two full days.

In its meetings, the Council discussed many topics and developments related to economic affairs, and affirmed its commitment to the strict precautionary policies that it announced at the beginning of 2022, and its continuation of activating and using available monetary policy tools to maintain economic stability.

The Board also reviewed the report submitted on the developments in the weekly auction operations for selling foreign currencies, and stressed the progress of the review and evaluation process of the bank’s performance.

The Council appreciated the efforts of brothers and friends, which contribute to alleviating the negative effects of unfavorable developments and maintaining the relative stability of prices, especially the exchange rates of the national currency.

Recently, the Yemeni currency collapsed against foreign currencies and recorded its largest decline in light of the continuing economic crisis. Saudi Arabia exceeded the barrier of 400 riyals per riyal and the dollar also exceeded the barrier of 1,500 riyals per dollar.