YEMEN Press Agency

Exchange rates drop slightly in Aden amid warnings of economic catastrophe

SANAA, July 27 (YPA) – Foreign currency exchange rates in banks in Aden and other areas under the Saudi-led coalition’s control witnessed a slight decline on Sunday, with the US dollar recording 2,880 Yemeni riyals for sale and 2,865 riyals for purchase.

The Saudi riyal stabilized at 755 riyals for sale and 753 riyals for purchase, according to banking sources.

The sources reported that the dollar exchange rate fell by 7 riyals over the past 24 hours, while the Saudi riyal fell by about 2 riyals. This decline comes after the dollar exceeded 2,900 riyals and the Saudi riyal exceeded 760 riyals over the past week.

Warnings of an economic catastrophe

Observers believe that the exchange rate crisis in Aden is no longer just a banking issue but has turned into a social and humanitarian dilemma that threatens the livelihood stability and food security of millions of citizens. They warned of a complete economic catastrophe, especially in light of the absence of effective monetary policies by the presidential government, which they described as tainted by corruption, mismanagement, and the plundering of the country’s wealth.

Stability of exchange rates in Sanaa

In contrast, exchange rates in Sanaa remained unaffected, remaining stable thanks to the Central Bank’s measures. Foreign currency exchange rates against the Yemeni riyal were set as follows:

– Saudi riyal = 140 Yemeni riyals

– US dollar = 530.50 Yemeni riyals

– US dollar = 3.79 Saudi riyals.

 

YPA