Yemeni riyal rebounds as Houthis accused of violating truce ...Saudi Arabia

Author: Sun, 2022-04-03 22:21 RIYADH: The Yemeni riyal on Sunday rebounded by about 13 percent on news about the UN-brokered truce and talks between rival forces in the Saudi capital. Money traders told Arab News that the riyal rose for the first time in months, from 1260 to 1070 in government-controlled areas. The riyal also recovered in Houthi-controlled areas, reaching 575 to the dollar, compared to 602 a week ago. The rapid surge in the riyal has prompted some local money exchange firms to suspend the selling of hard currencies. “People hastily sell their Saudi riyals and the dollar. The demand for the riyal has created a liquidity crunch,” one trader said. The recovery of the

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