Yemeni riyal witnesses accelerating collapse in southern provinces

SANAA, March 20 (YPA) – The Yemeni riyal exchange rate continued on Saturday its collapse against foreign currencies in the southern provinces, recording 913 riyals per dollar in the provinces of Aden and Hadramout.

This came amid news about the Saudi-backed Hadi government’s planning to print more than 400 billion riyals of new currency in Russia.

Hadi government” had printed more than 2 trillion riyals between the years 2017 and 2020 without monetary cover, which caused the collapse of the Yemeni economy and the deterioration of local currency against foreign currencies.

Meanwhile, the exchange rate of the Yemeni riyal remained stable in the capital Sanaa at 605 riyals per dollar.

YPA