YEMEN Press Agency

Yemeni riyal witnesses slight recovery against foreign currencies

SANAA, April 6 (YPA) – The Yemeni riyal on Saturday, April 6, witnessed a slight improvement against foreign currencies in local financial markets after one day of recovery.

The price of a US dollar in the capital Sanaa reached 510 Yemeni riyals, 526 riyals in Aden province, and 522 riyals in Hadramout province, while the average price of the dollar on the black market reached 570 riyals.

The exchange rate of one dollar in the Central Bank in Sanaa reached 250 riyals, and 440 riyals in Aden’s central bank, while in other Yemeni banks in the capital Sanaa reached 545 riyals.

According to banking sources, the sharp inflation in the Yemeni economy resulting from the restriction of external imports and movement of goods internally between the provinces and externally from and to Yemen because of the war and siege, and flooding the Yemeni market with the printed banknotes without a financial cover, has frequently caused an inability of providing foreign exchange and thus the instability of the national currency rate in domestic exchange markets.