US dollar approaches barrier of 2,000 riyals in Aden

SANAA, July 21 (YPA) – Foreign currency exchange rates continued on Sunday to rise against local currency in the city of Aden and the southern and eastern provinces of Yemen, controlled by the Saudi-led coalition.

According to banking sources in Aden, the dollar exchange rate reached 1,917 riyals, and the Saudi riyal exceeded the barrier of 500 riyals.

The rapid collapse of the local currency in Aden portends an unprecedented economic catastrophe, with the continuing failure and inability of the pro-coalition government to find significant economic solutions and reforms, according to economic experts in Yemen.

In Sanaa, the Central Bank of Yemen published this evening a new circular, which included the upper limit for the selling prices of major currencies approved by the Foreign Exchange Unit, as follows:
Saudi riyal to Yemeni riyal = 140 Yemeni riyals
US dollar to Yemeni riyal = 530.50 Yemeni riyals
US dollar to Saudi riyal = 3.79 Saudi riyals.

YPA