Yemeni riyal fall against foreign currencies continues on Monday

SANAA, Sept. 16 (YPA) -The Yemeni riyal is still recording a significant decline against the foreign exchange rates in the local financial markets, stopping at 613 riyals per dollar on Monday.

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

The sources explained that the arbitrary measures recently 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 affirm that he is running an agenda in favor of Saudi-led coalition countries, which also are imposing a blockade and an economic war on Yemen, the sources added.

YPA