Rising dollar exchange rate against riyal in Aden deepens economic crisis

SANAA, July 16 (YPA) – Foreign currency exchange rates in Aden and the southern and eastern provinces of Yemen witnessed a new rise against the riyal on Wednesday, amid a rapid currency collapse and disastrous repercussions on the economy and citizens’ livelihoods.

The dollar recorded 2,880 Yemeni riyals for sale and 2,861 riyals for purchase, while the Saudi riyal reached 755 riyals for sale and 752 riyals for purchase, with a two-day increase of 15 riyals to the dollar and 5 riyals to the Saudi riyal.

Since the beginning of July, the dollar has risen by 133 riyals and the Saudi riyal by 36 riyals, following significant increases in June that exceeded 212 riyals to the dollar and 60 riyals to the Saudi riyal.

The Southern Money Changers Syndicate has demanded the resignation of the leadership of the Central Bank in Aden, holding officials responsible for the collapse of the riyal. It pointed out that the dollar’s rise to 2,800 riyals reflects a failure to control the market and protect the national currency, exacerbates citizens’ suffering, and threatens serious economic and social crises.

Exchange rates in Sanaa have not been affected by fluctuations, thanks to the Central Bank’s measures to ensure monetary stability.

The current rates, according to the Central Bank:

1 Saudi Riyal = 140 Yemeni Riyals

1 US Dollar = 530.50 Yemeni Riyals

1 US Dollar = 3.79 Saudi Riyals.