In anticipation of fall of Marib, “Hadi govt” officials withdraw large amounts of foreign currency

ADEN, Sept. 26 (YPA) – The Money Exchange Association in the port city of Aden, southern Yemen, on Sunday suspended trading in foreign currency for an indefinite period.

In a circular to all exchange companies, the association decided to stop all buying and selling foreign currency (Saudi riyal, US dollars) as of Saturday evening.

The suspension decision came as a result of the significant decline of the local currency rates, as the dollar exchange rate exceeded the barrier of 1,200 riyals.

Banking sources revealed that the reasons for the sudden rise are due to exchange companies’ buying large amounts of foreign currency and transferring them to Marib province, where Hadi government officials are buying foreign currency in anticipation of the city’s fall into the hands of Sanaa forces.

YPA