YEMEN Press Agency

Yemeni riyal sets down against foreign currencies on Wednesday

SANAA, Aug. 21 (YPA) – The Yemeni riyal on Wednesday recorded significant decline against the foreign exchange rates in the local financial markets at 600 riyals per dollar, influenced by differences among leaders of the Central Bank of Aden and the ongoing conflict between Saudi-UAE coalition militias in the occupied province of Aden.

Banking sources referred that the arbitrary measures taken by governor of the central bank of Aden Hafedh Maydad who addressed the international financial remittance companies to stop dealing with institutions and exchange companies licensed from the Central Bank in Sanaa, which represents 85% of the total banking sector, have further exacerbated the economic situation and caused the collapse of the currency.

This assured that governor of central bank in Aden is running an agenda in favor of Saudi-led coalition countries and serving their economic war against Yemen, the sources added.