YEMEN Press Agency

Yemeni riyal continues to decline against foreign currencies

SANAA, July 25 (YPA) – The Yemeni riyal on Thursday (July 25th, 2019) reverted its decline against foreign currencies in the local financial markets to stop at 585 riyals per dollar, influenced by the differences of leaders of the central bank of Aden and flooding of markets with new currency printed in Russia.

Sources told Yemen Press Agency that the recent arbitrary measures imposed by the Central Bank’s governor in Aden Hafedh Maydad through addressing the international financial remittance companies to stop dealing with institutions and exchange companies licensed from the Central Bank in Sanaa, which represent 85% of the total exchange sector, have further aggravated the economic situation and caused the collapse of the currency.

“This assures that Mayad is running Saudi-led coalition countries’ agenda in their economic war against Yemen,” the sources added.

The price of US dollar in the capital Sanaa hit 582 Yemeni riyals, 583 riyals in Aden, 585 riyals in Hadramout, and 585 riyals the black market, while the exchange rate of one dollar in the Central Bank of Sanaa is 250 riyals, and 495 riyals in the central bank of Aden, and 440 riyals in other Yemeni banks in the capital Sanaa.