New rise in foreign exchange rates threatens to exacerbate economic crisis in southern provinces

SANAA, Feb. 18 (YPA) – The exchange rates of the Yemeni riyal entered on Saturday the danger phase again due to the significant decline against foreign currencies in the occupied provinces, as a result of the failure of the “government” loyal to Saudi-led coalition to manage the economic file.

The exchange rate of one dollar in Aden province and the rest of the areas under the control of the coalition forces reached 1,264 riyals, and the Saudi riyal reached 338 riyals.

The decision to raise the tariff rate of the customs dollar and raise taxes at the beginning of this year, as well as the coalition countries, led by Saudi Arabia and the UAE, evading fulfilling their promises to provide financial deposits to the central bank of Aden have contributed to the collapse of the national currency, which led to a significant increase in the prices of food commodities in the Yemeni areas under the control of the coalition.

On the other hand, the National Salvation Government succeeded in fixing the exchange rates in the areas under its control, as the Yemeni riyal reached 545 riyals per dollar, and 146 riyals per Saudi riyal.

YPA