Yemeni currency continues to slide ‏

SANAA, July (YPA) – The Yemeni riyal has plunged against foreign currencies over this month, according to banking sources on Wednesday.

The sources said that a dollar now worth 587 riyals on official markets due to the war and economic siege imposed by Saudi-led coalition on Yemen since 2015.

The Saudi-backed resigned Hadi’s authorities in Aden have also enhanced liquidity by printing money, and the cessation of oil exports are among the factors contributing to the collapse of the rial.

The sources added that the crisis have increased up food and fuel prices, which are out of reach for most the Yemeni people.

Ali Ahsan