Here's a breakdown of its meaning:
* Yours: Indicates that the message is coming from the writer and is directed to the recipient.
* Truly: Emphasizes sincerity and respect.
It's a polite and respectful way to end a formal communication, showing that you've taken the time to write the message and value the recipient's time.
Example:
> "Thank you for your time and consideration.
>
> Yours truly,
>
> [Your Name]"
While "Yours truly" is considered a formal closing, it's still appropriate to use in less formal contexts, such as emails to colleagues or friends.