In light of the sharp and unprecedented deterioration in foreign exchange rates against the Yemeni riyal, banking sources in the capital, Aden, announced that all foreign currency sale and purchase operations towards the Yemeni riyal completely until further notice.

This procedure comes based on the directives issued by the Central Bank of Yemen - CBY, which - aims - to the sources of the sources - to reduce speculation in the exchange market, and control the stability of the local currency that is witnessing an unprecedented state of historical decline.

Sources in the banking sector confirmed that the decision includes all exchange facilities and companies operating in Aden, and obliges them to immediately stop any cash transactions in foreign currencies towards the Yemeni riyal.