Saudi King Allocates $200Mln to Yemeni Central Bank

Tuesday, October 2nd, 2018 | | International

DOHA, Oct 2: According to the Saudi Press Agency (SPA), the new contribution would complement $3 billion earlier deposited in the Yemeni Central Bank.

The Saudi authorities expect the donation to alleviate the economic burden of the Yemeni people, the news outlet added.

The exchange rate of Yemen’s rial to the US dollar has recently halved compared to pre-war figure, which resulted in a sharp increase in prices of goods and services. At present the official rate of exchange is over 250 Yemeni rials to one US dollar.

Yemen has been engulfed in an armed conflict between the government forces led by President Abd Rabbuh Mansour Hadi and the Houthi rebels for several years. The Saudi-led coalition has been carrying out airstrikes against the Houthis at Hadi’s request since March 2015.