In the city of Aden and other southern and eastern provinces of Yemen, foreign currency prices have once again increased compared to the local currency. The dollar reached 1,841 riyals, while the Saudi riyal surpassed 482 riyals, according to banking sources reporting a recent surge of 14 riyals in the dollar exchange rate and 4 riyals in the Saudi riyal exchange rate.
Experts are sounding the alarm about the economic crisis looming over Aden as the local currency continues to deteriorate rapidly. The government aligned with the Saudi-led coalition is failing to implement effective economic measures, leading to severe consequences for the citizens.
Economic analysts attribute the collapse of the local currency in Aden to the reckless printing of six trillion Yemeni riyals without proper backing between 2016 and 2021 by the pro-coalition government. In contrast, stability is maintained in Sanaa and areas controlled by the Supreme Political Council.
It is evident that urgent actions are required to address the economic challenges faced by Yemen, especially in regions where currency devaluation is escalating.
YPA
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