Yemeni riyal continues to slide against foreign currencies

SANAA, Aug. 17 (YPA) – The Yemeni riyal has plunged against foreign currencies over this month, according to banking sources on Saturday.

The sources said the riyal trades at 600 riyals to a dollar in official markets now due to the war and economic siege imposed by Saudi-led coalition on Yemen since 2015.

Conflicts in Yemen’s southern provinces and targeting economic facilities by the collation and its militias are among the factors contributing to the collapse of the rial.

The coalition used the economic siege as the paper to increase food and fuel prices and push the Yemeni people to the brink of starvation, the sources added.

Ali Ahsan