For second week, Yemeni riyal continues to fall against foreign currencies

SANAA, March 14 (YPA) – The Yemeni riyal on Thursday continued its collapse for the second week against foreign currencies in the local exchange markets as it approached 600 riyals for US $ dollar.

According to banking sources, the sharp inflation in the Yemeni economy resulting from the restriction of external imports and movement of goods internally between the provinces and externally from and to Yemen because of the war and siege, and flooding the Yemeni market with the printed banknotes without a financial cover, had caused an inability to provide foreign exchange and thus the collapse of the national currency in domestic financial markets.

The one dollar price in the capital Sanaa reached 593 Yemeni riyals, 597 riyals in Aden province, and 592 riyals in Hadramout province.

The exchange rate of one dollar in the Central Bank in Sanaa reached 250 riyals, and ranged between 440 to 490 riyals in Aden’s central bank, while in other Yemeni banks in the capital Sanaa reached 545 riyals.

b@m