Money exchange companies closed in Hadramout

HADRAMOUT, Oct. 11 (YPA) – Money Changers Association in Wadi Hadramout province called on all exchange companies to suspend works as a result of the continuous collapse of the local currency.

In a statement, the association demanded all moneychangers to organize a protest rally in front of the Central Bank and the headquarters of the local authority, for intervention and stopping the deterioration of the local currency against the foreign currencies.

The statement blamed the Saudi-backed exiled Hadi government full responsible for the deterioration of the local currency, refusing trading in the dollar and the other foreign currencies after the Yemeni riyal hit a record low.

The government of Hadi is adopting destructive financial policies against the Yemeni economy, the latest of which was raising customs tariff fees from 250-500 riyals, with the expansion of the humanitarian catastrophe in Yemen.

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