YEMEN Press Agency

Yemeni riyal rate stabilizes in Sanaa, drops in southern provinces

SANAA, May 28 (YPA) – The Yemeni riyal exchange rate continued on Friday to maintain its stability in the capital Sanaa and the free provinces at 598 against the US dollar.

This comes as a result of the economic policies pursued by the political leadership in Sanaa and the national salvation government.

In this context, the illegal currency continues to collapse, approaching the thousand riyals barrier against the dollar, in the southern provinces occupied by the Saudi-led coalition

The price of the dollar in last week’s trading in Aden and other occupied provinces reached 920 riyals.

Since the Saudi-led coalition and its mercenaries moved the functions of the central bank to Aden, the latter has been unable to manage the exchange rate, and even contributed to the deterioration of the currency value, due to its continued financing of the mercenary government’s expenses through cash issuance without a cover from international reserves.