Yemen tightens security at ports to prevent smuggling of foreign currencies

2021-10-27 | Since 1 Month

ADEN (Debriefer)--Yemen's internationally recognised government on Tuesday ordered the security apparatuses to tighten security at all land, sea and air ports to prevent the smuggling of foreign currencies abroad.

It is cracking down on exchange firms and traders involved in currency speculation and has issued new regulations on remittances as part of measures aimed at addressing the crash of the rial.

One US dollar is buying around 1,380, up from 215 when the war broke out in late 2014.

Large amounts of foreign currencies will be seized at ports unless people travelling abroad get permits from the Central Bank to carry them, a government official said on condition of anonymity.

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