Dollar exchange rate reaches 2,900 riyals in Aden

SANAA, July 17 (YPA) – The US dollar exchange rate against the Yemeni riyal in Aden and the southern and eastern provinces, controlled by the Saudi-led coalition, reached a new high, reaching 2,900 Yemeni riyals to one dollar.

Banking sources reported that the dollar is being sold for 2,900 riyals and bought for 2,884 riyals, while the Saudi riyal is being sold for 760 riyals and bought for 758 riyals. The increase in the past 24 hours amounted to 20 riyals to the dollar and 5 riyals to the Saudi riyal.

These increases have accumulated since the beginning of July to more than 153 riyals to the dollar and 40 riyals to the Saudi riyal, with a previous increase in June of 212 riyals to the dollar and 60 riyals to the Saudi riyal.

The Money Changers Syndicate called for the resignation of the leadership of the Central Bank in Aden, holding it responsible for the currency collapse and rising prices, and considered this an indication of a failure to control the market.

Economists predicted that the exchange rate would soon reach 3,000 riyals, pointing to the failure of the pro-coalition government to manage the monetary crisis.

Observers believe that the crisis has gone beyond financial matters to become a serious threat to livelihoods and society, given the absence of effective monetary policies, mismanagement, and accusations of plundering wealth.

Stability of exchange rates in Sanaa

In contrast, exchange rates in Sanaa remained stable due to measures by the Central Bank to maintain market stability. Current rates are as follows:

– 1 Saudi riyal = 140 Yemeni riyals

– 1 US dollar = 530.50 Yemeni riyals

– 1 US dollar = 3.79 Saudi riyals.

YPA