US dollar records significant increase in Aden

ADEN, Dec. 11 (YPA) – The Yemeni riyal continued on Wednesday to decline in Aden and other southern provinces of Yemen, controlled by the Saudi-led coalition, without significant economic treatments by the pro-coalition government.
According to banking data in Aden, the US dollar’s selling price reached 2,067 riyals and 2,056 riyals to buy, while the Saudi riyal’s price reached 540.50 Yemeni riyals and 539 riyals to buy.

Economic observers attributed the Yemeni riyal’s collapse in southern Yemen to the pro-coalition government’s economic mismanagement, which has failed to implement reforms to address the deteriorating economy and living conditions, leading to a fourth consecutive month of employee salary cuts.

Between 2016 and 2021, the pro-coalition government printed over 5 trillion and 320 billion Yemeni riyals without cover, exacerbating inflation and significantly eroding the currency’s value.

YPA