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Rial Surges Under Revitalized Central Bank
The Yemeni rial has seen a dramatic recovery since late July, appreciating by over 44 percent after months of hemorrhaging value. Its sudden rise is the result of a multi-pronged approach led by the government-run Central Bank of Yemen in Aden (CBY-Aden). Key measures have included curbing speculation and currency manipulation, institutionalizing … Read more
Currency War Threatens to Deepen Yemen’s Monetary Rift
Yemen's fractured monetary system is on the brink of further division. The Houthi group has introduced new unilateral monetary measures, issuing new coins and banknotes in an attempt to consolidate financial control, undermine their rivals, and sustain the war economy.
On July 13, the Houthi-affiliated Central Bank of Yemen in Sana’a (CBY-Sana’a) … Read more