Yemeni riyal witnesses new collapse in southern provinces
SANAA, Feb. 01 (YPA) – The Yemeni riyal exchange rate on Wednesday witnessed a new collapse against foreign currencies in the southern provinces under the control of the Saudi-led coalition as a result of the Central Bank of Aden announcing auction bids.
The dollar exchange rate reached 1,253 riyals, and the exchange rate of Saudi riyal reached between 333 riyals.
On Tuesday, the Central Bank of Aden announced bids for auction No. (5-2023) amounted to $7,497,000 dollars, with a coverage rate of 25%.
According to the bank under the control of the coalition forces, the highest exchange rate reached 1,254 riyals to the dollar, while the lowest exchange rate reached 1,246 riyals to the dollar.
The Central Bank of Aden announced, last Monday, negative repercussions facing the local currency in the areas controlled by the coalition forces in southern Yemen, referring to a new expected collapse of the local currency in those areas.
Economists expect the local currency to exceed the barrier of 2,000 riyals to the dollar in the southern provinces under the control of the coalition.
YPA