Foreign currencies continue to record new highs in Aden

SANAA, June 21 (YPA) – The local currency continued on Saturday to collapse in Aden and the southern and eastern provinces of Yemen, with foreign exchange rates rising, with the dollar exceeding 2,730 Yemeni riyals.

On Saturday, the dollar exchange rate reached 2,731 riyals for sale and 2,712 riyals for purchase, while the Saudi riyal recorded 716 riyals for sale and 713 riyals for purchase.

The weekly exchange rate saw the dollar rise by about 100 riyals and the Saudi riyal by 25 riyals. Economists expect the dollar to reach 3,000 riyals soon, holding the Presidential Council government loyal to the Saudi-led coalition responsible for the collapse, the failure to manage the crisis, and currency speculation.

Observers believe the pro-coalition government is unable to halt the decline, while traders are replacing the Yemeni riyal with the Saudi riyal due to its depreciation, impacting citizens. The crisis is no longer limited to banking; it also threatens living stability and food security amid the absence of effective monetary policies and a government mired in corruption and mismanagement.

In contrast, the capital, Sanaa, is experiencing economic and financial stability thanks to strict measures by the Central Bank to control foreign exchange rates. The bank announces daily exchange rates for major currencies as follows:

– 1 Saudi riyal = 140 Yemeni riyals

– 1 US dollar = 530.50 Yemeni riyals

– 1 US dollar = 3.79 Saudi riyals.

YPA