The Economic Crisis in Yemen: Foreign Exchange Rates

The city of Aden and the southern and eastern provinces of Yemen are facing instability in foreign exchange rates. The Yemeni riyal has seen a significant drop in value, with the US dollar reaching 1,933 riyals for sale and 1,918 riyals for purchase. The Saudi riyal has also exceeded 505 riyals for sale and 503 riyals for purchase.

The economic mismanagement of the government loyal to the Saudi-led coalition is blamed for the currency collapse. Overprinting of Yemeni riyals without cash cover has led to inflation and devaluation. Meanwhile, in Sanaa, exchange rates remain stable due to the Central Bank’s policies.

Current exchange rates: Saudi riyal to Yemeni riyal = 140 Yemeni riyals, US dollar to Yemeni riyal = 530.50 Yemeni riyals, US dollar to Saudi riyal = 3.79 Saudi riyals to the dollar.