In Aden and other southern and eastern Yemeni provinces under Saudi-led coalition control, foreign currency exchange rates are skyrocketing, with the dollar hitting 1,917 riyals and the Saudi riyal crossing the 500 riyal mark.
This surge signals a looming economic crisis in Aden, highlighting the coalition-backed government’s failure to implement effective economic strategies, say experts.
Meanwhile, the Central Bank of Yemen in Sanaa has released new exchange rate guidelines, setting the selling prices for major currencies: 140 Yemeni riyals for one Saudi riyal, 530.50 Yemeni riyals for one US dollar, and 3.79 Saudi riyals for one US dollar.
With the currency situation worsening in Aden, Yemen faces an uphill battle to stabilize its economy and prevent further financial turmoil.
YPA
\
[ad_2]
Source link
