Aden — The Yemeni rial recorded a notable surge against the US dollar for the third consecutive day, reversing months of steep decline that had pushed the currency to historic lows. Currency traders in Aden reported that the rial climbed to 1,900 per dollar for buying and 2,100 for selling, compared to an average of 2,650 just a day earlier and over 2,900 earlier this month.

The rally follows a series of regulatory measures by the Central Bank of Yemen in Aden, which recently suspended licenses for 37 exchange firms found to be in violation of financial regulations. Analysts say the crackdown has curbed speculative trading and reduced demand for foreign currency in the black market, contributing to the rial’s recovery.

Economic experts also credit the bank’s activation of an import oversight committee, which now requires fuel importers to transact exclusively through designated banks rather than informal exchange networks. This shift has reportedly eased pressure on foreign reserves and stabilized demand for hard currency.

Despite the improvement, market conditions remain fragile. Many traders have halted dollar purchases amid uncertainty over future regulations, while consumer demand continues to weaken due to inflation and limited purchasing power. The rial’s rebound has sparked cautious optimism, with some analysts predicting a gradual decline in commodity prices if the trend holds.

Yemen’s economy, battered by a decade-long conflict, faces ongoing challenges including dwindling foreign reserves, disrupted trade, and widespread humanitarian needs. The recent currency gains offer a rare moment of relief, though experts warn that sustained recovery will require deeper structural reforms and political stability.