Foreign exchange rates hit new record high against Yemeni riyal in Aden

SANAA, July 12 (YPA) – The US dollar recorded on Saturday in Aden and the southern and eastern provinces under the Presidential Leadership Council’s government loyal to the Saudi-led coalition 2,861 Yemeni riyals for sale and 2,834 riyals for purchase, a decrease of 9 riyals in 24 hours.

As for the Saudi riyal, its price reached 750 riyals for sale and 745 riyals for purchase, a decrease of 3 riyals.

According to sources, foreign currency exchange rates have increased by 113 riyals to the dollar and 31 riyals to the Saudi riyal since the beginning of July, while June saw a higher increase of 212 riyals to the dollar and 60 riyals to the Saudi riyal.

Observers believe that the exchange rate crisis has gone beyond the banking sector to become a threat to living stability and food security, given the absence of effective monetary policies from the pro-government, which faces accusations of corruption and mismanagement.

Exchange rates in Sanaa have not changed due to the Central Bank’s measures to ensure stability. The rates, as determined by the Central Bank, are:

– Saudi Riyal = 140 Yemeni Riyals

– US Dollar = 530.50 Yemeni Riyals

– US Dollar = 3.79 Saudi Riyals.

YPA