Southern Money Changers Syndicate calls for Bank of Aden’s leadership to resign after currency’s collapse

ADEN, July 14 (YPA) – The Southern Money Changers Syndicate in Aden province, controlled by the Saudi-led coalition in southern Yemen, on Monday condemned the continued rapid collapse of the Yemeni riyal against foreign currencies in the southern regions, amid the failure of the Bank of Aden to halt the collapse.

In a statement issued today, the syndicate held the bank fully responsible for the deterioration of the riyal’s exchange rate, demanded its leaders resign, and held accountable anyone proven to be complicit in harming the economy.

The syndicate expressed its deep concern over the US dollar exchange rate exceeding 2,800 riyals in Aden and other regions, describing it as a “clear indication of a disastrous failure” to control the market and protect the national currency.

The statement accused bank officials of “complete silence and inability” in the face of this collapse, which exacerbates citizens’ suffering and threatens serious economic and social repercussions. 

YPA