The Yemeni riyal hit a record low of 1,770 against the dollar in government-controlled areas, a drop that is expected to lead to a rise in prices and potential unrest.
Despite efforts to stabilize the currency, the riyal has steadily declined over the years due to various economic challenges, including currency speculation and disruptions in oil exports.
The devaluation of the riyal has had a significant impact on the lives of Yemenis, with soaring costs of basic necessities pushing many into poverty.
The Yemeni government and the central bank in Aden have implemented measures to address the crisis, but so far, these actions have not been successful in preventing the riyal’s decline.
With state workers experiencing stagnant wages and teachers going on strike for better pay, the economic situation in Yemen remains dire.