Contradictory economic situations in Yemen: Crippling living crisis in Aden vs. monetary stability in Sanaa

SANAA, Nov. 10 (YPA) – Citizens in the southern and eastern governorates of Yemen, which are under the control of the Aden government, are experiencing a state of economic confusion and raging price inflation, despite the government’s promotion of an “improvement” in exchange rates.

Exchange Rate and Erosion of Purchasing Power in Aden:

The selling rate for the US Dollar in Aden and its affiliated regions recorded approximately 1,630 Yemeni Riyals (YER) today, Monday, while the Saudi Riyal reached about 428 YER for selling.

Economic experts assert that these figures do not reflect any actual improvement but are an attempt to cover up failures in monetary policy and poor governance. They warn that the crisis is transforming into a socio-economic time bomb due to deteriorating services and a suffocating rise in the cost of living.

Monetary Stability in Sanaa:

In complete contrast, the areas under the Sanaa authority are witnessing notable financial and monetary stability, thanks to strict regulatory measures taken by the Central Bank in Sanaa to control the market.

According to the bank’s daily circular, the maximum selling rate for the US Dollar has stabilized at 530.50 YER, and the Saudi Riyal at 140 YER, which directly reflects on market stability.

YPA