Saudi TASI index rises as Yemen currency rates stabilize

In Saudi Arabia, the main stock index, TASI, rose for a second consecutive session, closing at 10,846 points, a 0.3% increase. The market saw a significant liquidity surge, with trading value jumping 66% to approximately 5.3 billion riyals ($1.41 billion). Gains were driven by leading stocks such as Ma'aden and Saudi Aramco. Investors remain focused on global inflation data and oil price fluctuations, particularly Brent crude trading near $83.5 to $83.7 per barrel.

In Yemen, currency exchange rates remained stable against major foreign currencies in both Sanaa and Aden, despite a sharp structural disparity in purchasing power between the two regions. In Sanaa, the US dollar was trading at 531 riyals for purchase and 533 for sale, while in Aden, it reached 1,554 for purchase and 1,562 for sale. Gold prices also showed regional variation; 21-karat gold was priced at approximately 64,536 riyals in Sanaa and 188,259 riyals in Aden.