Yemeni riyal continues to drop against foreign currencies in Aden

SANAA, Feb. 18 (YPA) – The dollar exchange rate in Aden and the southern and eastern provinces, under the Saudi-led coalition’s control, recorded on Tuesday 2,363 Yemeni riyals, while the Saudi riyal exchange rate reached 618 riyals.

Foreign currency prices rose within 24 hours by 12 riyals for the dollar and three riyals for the Saudi riyal.

Aden has witnessed an increase since the beginning of February of 270 riyals for the dollar and more than 50 riyals for the Saudi riyal.

Observers have warned of the repercussions of the currency collapse and its direct economic effects on citizens, pointing to the economic mismanagement of the coalition-affiliated government, which failed to fix the situation after printing 5.32 trillion riyals without cover, which increased inflation and weakened the value of the currency.

In Sanaa, exchange rates remained stable thanks to the financial and banking measures implemented by the Central Bank to ensure rate stability.

The bank issued a circular today, outlining the official foreign exchange rates 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 per dollar.

YPA