Local currency records catastrophic collapse in Aden, as US dollar exceeds 2,639 riyals

SANAA, June 14 (YPA) – The local currency in Aden provinces and the southern and eastern provinces of Yemen on Saturday witnessed on Saturday a significant decline due to the rise in foreign currency prices.

The US dollar reached 2,639 Yemeni riyals for sale and 2,517 riyals for purchase, while the Saudi riyal exceeded 692 riyals for sale and 688 riyals for purchase. The dollar saw a weekly increase of 53 riyals, and the Saudi riyal increased by 15 riyals.

Activists from Aden and the southern regions under the control of the government loyal to the Saudi-led coalition expect the exchange rate to rise to 3,000 Yemeni riyals to the US dollar, considering this part of a systematic policy of impoverishment.

The activists noted that the leadership of the pro-coalition government, which they described as “mercenaries,” now relies entirely on the Saudi dollar deposit and other sums provided by Saudi Arabia. However, these sums are disbursed in Yemeni riyals after being converted from Saudi riyals through the central bank at the National Saudi Bank.

As the local currency continues to depreciate against the dollar and foreign currencies in Aden and the southern and eastern regions of Yemen, citizens are suffering from a steady rise in the prices of basic commodities and deterioration in daily services.

In contrast, the capital, Sanaa, is experiencing remarkable economic and financial stability, supported by strict monetary regulatory measures implemented to control foreign exchange rates. These measures are administered by the Central Bank of the Sanaa government.

In an official daily statement, the Central Bank in Sanaa clarifies the main approved exchange rates for the foreign exchange dealing unit, which are set 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.

YPA