YEMEN Press Agency

Yemeni riyal continues to fall against foreign currencies in southern Yemen

SANAA, June 13 (YPA) – The local currency, the Yemeni riyal, continued on Thursday to drop dramatically against foreign currencies in the banks of the city of Aden and the southern and eastern Yemeni provinces.

Banking sources confirmed that the selling price of the dollar in Aden and the southern and eastern provinces recorded 1,821 riyals, an increase of 30 riyals within 48 hours, while the price of the Saudi riyal exceeded 477 Yemeni riyals.

Observers considered that this deterioration was the fastest of the local currency within days in the areas controlled by the Saudi-led coalition in southern and eastern Yemen, during which the price of the dollar increased by 51 riyals within 96 hours.

This accelerating collapse coincides with the approaching Eid al-Adha, during which people’s demands to buy necessities increase.

Meanwhile, the exchange rates in Sanaa remained relatively stable at 532 riyals to the dollar and 141 riyals to the Saudi riyal.