Public Optimism Following the Government’s Measures to Recover from Currency Crisis

The Yemeni riyal rose to 1357 against the dollar and 360 against the Saudi Rial across Yemen after the Yemeni president reshuffled the country’s central bank board in a bid to rein in the rapid currency devaluation. President Abdrabu Mansur appointed Ahmad Al Mabaki as the new governor and chairman of the Central Bank of Yemen’s board, and Mohammed Banajah as the deputy governor and vice chairman of the board. This came after the Rial tumbled down to an unprecedented low of 1700 against the US dollar. Mass protests broke out amid an unbearable surge in prices of food commodities and petrol.