Yemeni riyal continues to drop against foreign currencies in Aden

SANAA, June 15 (YPA) – The local currency, Yemeni riyal, continued on Sunday to decline in Aden and the southern and eastern provinces of Yemen, with the US dollar exchange rate reaching 2,659 Yemeni riyals over the past few hours.

On Sunday, the selling price reached 2,659 riyals against the dollar and 2,536 riyals for buying, while the Saudi riyal recorded 697 Yemeni riyals for selling and 693 riyals for buying. In one week, the dollar rose by 73 riyals, and the Saudi riyal rose by 20 riyals.

Observers believe that the exchange rate crisis has gone beyond the banking sector and is threatening the livelihood and food security of millions of citizens, with warnings of an imminent economic collapse due to the absence of monetary policies and government corruption and mismanagement.

The capital, Sanaa, enjoys economic and financial stability thanks to strict monetary policies to control foreign exchange rates, imposed by the central bank of the Sanaa government. The bank fixes the daily exchange rates of major currencies as follows:

– Saudi Riyal = 140 Yemeni Riyals

– US Dollar = 530.50 Yemeni Riyals

– US Dollar = 3.79 Saudi Riyals.

YPA