Yemeni riyal witnesses slight recovery in southern provinces

SANAA, Jan. 14 (YPA) – The Yemeni riyal exchange rate on Saturday witnessed slight improvement after weeks of collapse against foreign currencies in the southern provinces controlled by the Saudi-led coalition countries, reaching 1,238 riyals per US dollar in Aden and Hadramout provinces.

This comes after president of the Riyadh-formed “Presidential Council”, Rashad Al-Alimi, had 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, while 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