Decline in exchange rate in Aden has no positive impact, as living conditions remain unchanged
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SANAA, Aug. 06 (YPA) – Despite the significant decline in foreign exchange rates in Aden and the southern and eastern provinces under the Saudi-led coalition-backed government, these changes have not had a positive impact on the daily lives of citizens.
Economic and service crises persist, sparking widespread discontent among the population.
According to banking sources in Aden, the US dollar exchange rate stabilized on Wednesday at 1,632 Yemeni riyals for sale and 1,617 riyals for purchase, while the Saudi riyal exchange rate reached 428 riyals for sale and 425 riyals for purchase, with no significant changes over the past 24 hours.
Despite this slight improvement in exchange rates, citizens point to continued high prices for basic commodities, the closure of many bakeries and shops, and the lack of effective market oversight, further exacerbating the economic situation.
Economic experts believe that this disparity between the fluctuating exchange rate and the stability of commodity prices reveals the fragility of the economy in areas under the Aden government. They emphasize that the sudden appreciation of the local currency is not necessarily evidence of a genuine economic recovery but rather reflects the chaos prevailing in the foreign exchange market, along with widespread corruption in official financial and monetary institutions.
Experts added that the absence of effective economic policies, coupled with weak government oversight, deepens the gap between official prices and citizens’ actual standard of living. This ongoing situation deepens the suffering of the population under the burden of an unstable economy that threatens further crises.
On the other hand, foreign exchange rates in Sanaa continue to maintain relative stability, thanks to the regulatory and financial measures implemented by the Central Bank of Yemen there. According to the official exchange rates, the Yemeni riyal exchange rate against foreign currencies in Sanaa is as follows:
