The Central Bank of Yemen, main center, Aden, announced yesterday evening, Tuesday, the resumption of auctions for selling foreign currencies in the market.

The bank said on its official website: “The Central Bank will resume its weekly auctions for selling foreign currencies by implementing a series of weekly auctions with amounts exceeding 50 million US dollars for each auction.”

He explained: “The date of the first auction for this year will be announced tomorrow, Wednesday, and other auctions will follow to provide the market’s need for foreign currencies.”

The Central Bank’s announcement comes at a time when the selling prices of foreign currencies reached an unprecedented level this evening, Tuesday, in light of the absence of sound monetary policy, the deterioration of economic conditions, the cessation of exports, and the failure to control imports from abroad.

According to the exchange rates this evening, the Saudi riyal exceeded 570 Yemeni riyals, while one dollar approached 2,200 Yemeni riyals, which are unprecedented prices and have not been recorded before.

It is expected that this announcement comes after the arrival of a batch of the latest Saudi grant estimated at half a billion dollars, in order to stop the current collapse of the local currency.