Yemeni riyal continues to collapse in southern provinces

SANAA, Jan. 08 (YPA) – The Yemeni riyal exchange rate on Sunday continued to fall significantly against foreign currencies in the southern provinces controlled by the Saudi-led coalition countries, reaching 1,260 riyals per US dollar in Aden and Hadramout provinces.

This comes days after president of the Riyadh-formed “Presidential Council”, Rashad Al-Alimi, announced in a previous press statement that his government went bankrupt and unable to pay salaries of its employees from the beginning of this year, and after the coalition countries evaded to fulfill their promises to provide financial deposits to the central bank in Aden.

Meanwhile, the exchange rate of riyal maintained its stability in Sanaa and the areas under the control of the Salvation Government at 560 riyals per dollar.

YPA