(MENAFN- Trend News Agency ) Saudi Arabia's King Salman ordered a deposit of $2 billion to be paid into Yemen's central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said, reports.
The move was made a day after the Yemeni prime minister issued a public plea for funds to prop up the rial and help stave off hunger in the war-torn country.
'It's not a loan, it's a deposit and the legitimate Yemeni government will not have to pay it back,' a source close to the Saudi government said.
Its currency, the rial, has lost more than half its value against the U.S. dollar and soaring prices have put some basic commodities out of reach for many Yemenis.
MENAFN1701201801870000ID1096362421
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.