Foreign currencies continue to rise in Aden against low value of local currency

SANAA, Jan. 28 (YPA) – Foreign currency rates in Aden and the provinces of southeastern Yemen witnessed on Tuesday a new rise, accompanied by a significant deterioration in the value of the local currency, at a time when Sanaa continues to maintain remarkable stability in exchange rates.

According to banking sources in Aden, the price of the US dollar exceeded a barrier of 2,195 Yemeni riyals for sale, while the purchase price reached 2,185 riyals, and the Saudi riyal also rose to 574 riyals for sale and 573 riyals for purchase.

Observers warned of the continued instability of exchange rates and its direct impact on the lives of citizens, especially with the parallel rise in the prices of goods and services. This situation puts the city of Aden in front of an unprecedented economic crisis that may lead to a comprehensive disaster.

The economists explained this deterioration with the poor economic management of the government loyal to the Saudi-led coalition and its failure to implement reforms, in addition to printing more than 5.32 trillion riyals without cover, which contributed to the exacerbation of inflation and the collapse of local currency.

In Sanaa, exchange rates remained stable without being affected by any changes, thanks to the financial and banking measures taken by the Central Bank to ensure the stability of the monetary market.

The bank issued a circular today, Tuesday, January 28, 2025, specifying the exchange rates of foreign currencies as follows:

– Saudi riyal against the Yemeni riyal: 140 Yemeni riyals.

– US dollar against the Yemeni riyal: 530.50 Yemeni riyals.

– US dollar against the Saudi riyal: 3.79 Saudi riyals.

YPA