Foreign exchange rates witness new surge in Aden, southern provinces

SANAA, May 19 (YPA) – The local currency in Aden and the southern and eastern provinces of Yemen has witnessed a new decline, reflecting the continued collapse after a slight decline compared to the increase recorded last April.

On Monday, the exchange rate for the dollar reached 2,556 Yemeni riyals for sale and 2,541 Yemeni riyals for purchase, while the exchange rate for the Saudi riyal reached 670 Yemeni riyals for sale and 668 Yemeni riyals for purchase, a 24-hour increase of 12 Yemeni riyals to the dollar and 3 Yemeni riyals to the Saudi riyal.

Since the beginning of April, the exchange rate for the dollar has risen by more than 285 riyals and the Saudi riyal by 70 riyals, confirming the ongoing upward trend.

Observers have warned of a worsening economic crisis in Aden due to the instability of the exchange rate, which increases the living burdens of citizens suffering from poverty and difficult conditions due to the corruption of the Saudi-led coalition-backed government.

Foreign exchange rates in Sanaa are completely stable thanks to the Central Bank’s measures to maintain currency stability. In its daily circular published on Monday, the bank set the exchange rates as follows:

– Saudi Riyal = 140 Yemeni Riyals.

– US Dollar = 530.50 Yemeni Riyals.

– US Dollar = 3.79 Saudi Riyals.

YPA