Local currency continues to fall against foreign currencies in Aden

SANAA, June 27 (YPA) – The local currency in the city of Aden and the southern and eastern Yemeni provinces continued its journey of collapse, which portends an unprecedented economic catastrophe.

This comes amid the continued failure and inability of the government loyal to the Saudi-led coalition to find significant economic solutions and reforms.

Banking sources in Aden revealed that the selling price of the US dollar reached 1,835 Yemeni riyals on Thursday, while the selling price of the Saudi riyal exceeded 480 Yemeni riyals.

Economists in Yemen attribute the rapid collapse of the local currency in Aden to the pro-coalition government printing approximately six trillion Yemeni riyals without insurance cover between 2016 and 2021 and following a wrong financial policy that negatively affected the lives of citizens and led them to true famine.

YPA