Yemeni riyal falls significantly in southern provinces after dumping market with illegal currency

SANAA, Jun. 24 (YPA) – The Yemeni riyal exchange rate on Thursday fell significantly against foreign currencies in the southern provinces, reaching 945 riyals per one dollar in Aden and Hadramout.

This came after the “Hadi government” loyal to Saudi-led coalition flooded the local markets in the southern provinces with more than five trillion riyals of counterfeit currency, which were illegally printed.

Meanwhile, the Yemeni riyal exchange rate in the capital, Sanaa, remained stable at 599 riyals to the dollar. As for the average dollar exchange rate on the black market, it reached 605 riyals.

YPA