Sana'a Central Bank processes 60 billion Rial exchange requests

The Central Bank in Sana'a has received requests to exchange and transfer approximately 60 billion Yemeni Rials in newly printed currency from the West Coast regions. These requests have been submitted by financial institutions and commercial companies operating in coastal districts within the Taiz and Hodeidah governorates.

This move follows the recent control of these areas by Sana'a-aligned forces. The authorities in Sana'a have prohibited the circulation of the newly printed banknotes issued by the government to maintain exchange rate stability and prevent inflation caused by unbacked currency. Local authorities are currently coordinating with money exchangers to implement the exchange mechanism, which is expected to expand to all recently controlled districts.