Yemeni riyal records significant decline against foreign currencies on Saturday

SANAA, Sept. 14 (YPA) -The Yemeni riyal on Saturday recorded a significant decline against the foreign exchange rates in local financial markets amounted to 613 riyals per dollar.

This significant decline of the riyal comes as a result of differences between the leaders of Aden central bank, as well as the ongoing conflict between the militias loyal to Saudi Arabia and the UAE in the occupied province of Aden.

Earlier, banking sources said that the arbitrary measures taken by governor of Aden central bank Hafedh Meayad 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.

Meayad’s decisions affirmed that he is running an agenda in favor of Saudi-led coalition countries, which also impose a blockade and launch an economic war on Yemen, the sources added.

YPA