Yemeni riyal records new low against foreign currencies in southern provinces 

SANAA, July 18 (YPA) – The Yemeni riyal continued on Tuesday to fall dramatically against foreign currencies in financial transactions in the southern and eastern provinces under the control of the Saudi-led coalition forces.

The exchange rate of the US dollar in Aden and Hadramout reached 1,425 Yemeni riyals, while the exchange rate of the Saudi riyal reached 376 riyals.

Economists pointed out that this decline in turn led to a significant increase in the prices of food commodities, between 10 and 30 percent, in the Yemeni areas under the control of the coalition.

During the past few days, the southern and eastern provinces witnessed popular anger protests, condemning the collapse of the local currency and the rise in basic material prices.

In the capital, Sanaa, the riyal exchange rate preserved its stability at 529 riyals against the US dollar and 142 riyals against the Saudi riyal due to a set of measures taken by the Sanaa government.

YPA