YEMEN Press Agency

US dollar’s huge climb threatens to exacerbate living situation in southern Yemen

SANAA, June 11 (YPA) – The local currency has collapsed significantly against foreign currencies in the banks of Aden and the southern and eastern Yemeni provinces, portending an impending economic disaster as a result of the worsening living conditions in those areas after the dollar approached 1,800 Yemeni riyals.

According to banking sources, the selling price of the dollar in Aden and the southern and eastern provinces climbed to 1,792 riyals, while the price of the Saudi riyal topped 470 Yemeni riyals, a 48-hour gain of 21 riyals to the dollar and five riyals to the Saudi riyal.

This increase coincides with the approaching Eid Al-Adha, during which people’s needs for food consumption increase.