Economic crisis worsens in Aden amidst soaring dollar rates

ADEN, Dec. 23 (YPA) – Aden and the southern and eastern provinces of Yemen witnessed a sharp rise in exchange rates on Monday, with the US dollar reaching a new record high of 2,059 Yemeni riyals for selling and 2,052 riyals for buying.

Banking sources in Aden confirmed that the Saudi riyal has exceeded 538 Yemeni riyals, indicating a severe decline in the value of the local currency.

The soaring exchange rates have had a direct impact on the lives of citizens in areas under the control of the Saudi-led coalition, as they face extreme difficulties in securing their basic needs, especially with the continued rise in the prices of food and essential commodities.

YPA