Aden witnesses great collapse of riyal against foreign currencies
SANAA, April 12 (YPA) – The local currency, Yemeni riyal, in the city of Aden and the southern and eastern provinces in Yemen recorded a new collapse against foreign currencies in recent hours, as the dollar exchange rate exceeded 2,414 riyals.
According to the latest exchange rate updates on Saturday, the selling price of the dollar in Aden reached 2,414 riyals, and its buying price was 2,400 riyals, while the price of the Saudi riyal when selling exceeded 633 riyals and was 631 riyals when buying.
It is worth noting that foreign currency prices have witnessed a significant increase in Aden since the beginning of April, with the dollar rising by about 80 riyals and the Saudi riyal by more than 21 riyals.
This collapse comes amid a noticeable government inability to control the monetary and financial situation or provide solutions to the worsening crisis in the areas under the Saudi-led coalition’s control.
The Southern Money Changers Syndicate explained in a statement issued today that the main reasons behind the riyal’s collapse are the cost of importing alternative electricity sources, such as solar power systems, from abroad using foreign currencies, as well as the import of diesel and gas to operate generators.
Last Monday, Aden merchants went on a comprehensive strike that included closing their shops as an expression of their protest against the rapid deterioration of the local currency.
In Sanaa, the exchange rates were not affected by any variables, thanks to financial and banking measures taken by the Central Bank to maintain market stability.
According to a circular issued by the Central Bank of Yemen in Sanaa on Saturday, April 12, 2025, the maximum selling prices for the main currencies in circulation, according to the foreign exchange transactions unit, were as follows:
1 Saudi riyal to 1 Yemeni riyal = 140 Yemeni riyals.
1 US dollar to 1 Yemeni riyal = 530.50 Yemeni riyals.
1 US dollar to 1 Saudi riyal = 3.79 Saudi riyals to the dollar.
YPA