Yemeni riyal declines dramatically against foreign currencies in southern provinces

SANAA, Aug. 01 (YPA) – The Yemeni riyal exchange rate continued to fall against foreign currencies in the southern provinces, as a result of the Hadi government’s recent decision to raise the price of the customs dollar.

The price of one dollar reached 1003 riyals in the provinces of Aden and Hadramout on Sunday, while local residents confirmed that the price of one dollar has exceeded the barrier of 1030 riyals in Aden, according to local news websites,.

Economists attributed the reason for the deterioration of the riyal value in Aden to the Hadi government’s printing more than five trillion riyals without insurance, in light of the absence of the central bank’s role in Aden.

Meanwhile, the Yemeni riyal exchange rate in the capital, Sanaa, remained its stability at about 600 riyals to the dollar. As for the average dollar exchange rate on the black market, it reached 605 riyals.

YPA