Foreign currencies sale, purchase suspended in Aden

ADEN, Sept. 25 (YPA) – Money Exchangers Association in Yemen’s southern port city of Aden on Tuesday suspended all financial transactions related to the sale and purchase of foreign currencies.

In a statement, the association called on all exchange companies to stop all buying and selling operations from Tuesday and to close all money exchange shops as of Wednesday, September 26, until Saturday.

The decision came as a result of the rapid decline and decrease in purchasing value of the Yemeni riyal against other currencies, the statement added.

The association pointed out that the weakening value of Yemeni riyal, has directly affected livelihood of citizens in all provinces of the country, and resulted in high rates of poverty, hunger and disease in an economically deteriorating situation.

The move came after the unprecedented decline of Yemeni riyal during the recent period, reaching 655 riyals against a US dollar, and 174 riyals against a Saudi riyal.

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