Foreign exchange trading in Aden witness new fluctuations

SANAA, Mar. 16 (YPA) – The instability in foreign exchange rates against the Yemeni riyal continued on Sunday in Aden and the southern and eastern provinces of Yemen, with the riyal facing continuous declines.

According to the latest developments, the exchange rate of the US dollar in Aden on Sunday reached 2,363 riyals for sale and 2,338 riyals for purchase, while the Saudi riyal recorded more than 618 riyals for sale and 613 riyals for purchase. This increase reflects a 24-hour increase of 15 riyals for the dollar and approximately 10 riyals for the Saudi riyal.

It is worth noting that exchange rates have witnessed a significant increase since the beginning of Ramadan, with the dollar increasing by more than 70 riyals and the Saudi riyal increasing by more than 20 riyals.

Observers have warned of the continuation of these fluctuations in exchange rates with the worsening collapse of the local currency, pointing to the direct negative economic impacts on the lives of citizens.

Meanwhile, exchange rates in Sanaa remained stable without any changes, thanks to the financial and banking measures taken by the Central Bank there to ensure market stability.

The Central Bank in Sanaa announced the approved price ceiling for key currencies at the Foreign Exchange Dealing Unit, which includes 140 Yemeni riyals per Saudi riyal, 530.50 Yemeni riyals per US dollar, and 3.79 Saudi riyals per US dollar.

YPA