Proposals to remove four zeros from the currency have been floated since 2008, but the idea has gained strength as the rial lost more than 60 percent of its value in 2018.
Property investors have been flocking to Turkey in a bid to grab houses and apartments following lira's steady decline against the dollar and euro.
The Riyadh government says the funds will be deposited in Yemen's central bank to help address the "deteriorating economic situation faced by the Yemeni people."
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