YEMEN Press Agency

Yemeni riyal hits decline against foreign currencies on Wednesday

SANAA, July 31 (YPA) – The Yemeni riyal on Wednesday recorded a significant decline in foreign currency exchange rates in the local financial markets to stop at 588.5 riyals per dollar, influenced by differences between leaders of the central bank of Aden and flooding the markets with the currency printed in Russia.

Banking sources attributed that to the recent arbitrary measures taken by governor of the central bank of 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.

Those measures have further aggravated the economic situation and caused the collapse of the currency, affirming that Mayad is running Saudi-led coalition countries’ agenda in their economic war against Yemen, the sources added.