Yemeni riyal hits new low against foreign currencies in southern provinces

SANAA, Aug. 02 (YPA) – The Yemeni riyal exchange rate on Monday recorded new low against foreign currencies in the southern provinces, reaching 1013 riyals as a result of the Hadi government’s recent decision to raise the price of the customs dollar.

Local residents reported that the price of one dollar has exceeded the barrier of 1020 riyals in Aden province.

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