The UK P&I Club have received the following update from local correspondents.
On Monday 14th August 2017, the Central Bank of Yemen issued a circular to all banks in Yemen instructing them to float the local Yemeni currency of Yemeni Rial “YR”. The Central Bank of Yemen instructed local banks to use the market rate instead of fixed Central Bank rate. As a result, current exchange rate of YR 250 to the one US Dollar is expected to reach more than YR 370 to the one US Dollar.
Yemeni ports status as of 15th August 2017 as follows:
Source of Information
GAC Yemen Ltd.
PO Box 5202,
Republic of Yemen