US$ dollar approaches rate of 700 Yemeni riyals in southern provinces

SANAA, May 6 (YPA) – The Yemeni riyal exchange rate witnessed a significant decrease on Tuesday in the southern provinces, influenced by the tense conditions among the armed factions loyal to Saudi-led coalition, to reach 696 riyals per dollar in Aden and 697 in Hadramout.

The riyal’s devaluation in the southern provinces also came as a result of pumping more new currency, printed in Russia by Hadi’s government without cover, to the markets.

On the other hand, the Yemeni riyal preserved its stability in the capital Sanaa at 601 riyals per dollar, while the average price of dollar on the black market reached 605 riyals.

The exchange rate of one dollar in the Central Bank of Yemen in the capital Sanaa continued at 250 riyals, and in other Yemeni banks in the capital it remains stable at 440 riyals.

YPA