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2023-05-22 Arabia
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Value of Yemeni riyal plummets in occupied Aden
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[HODHODYEMENNEWS.NET] The exchange rate of local currency in Aden hit a new record low on Sunday as it approached 1,400 riyals for one US dollar.
According to banking sources, The US dollar exchange rate in the southern province of Aden amounted to 1,400 riyals, while the Saudi riyal exchange rate reached 350 Yemen
...an area of the Arabian Peninsula sometimes mistaken for a country. It is populated by more antagonistic tribes and factions than you can keep track of...
i riyals.
It is the first time the exchange rate reached this record level since the formation of the so-called "Presidential Leadership Council" nearly a year ago.
It is not yet clear whether the collapse is the result of pressure on the Southern Transitional Council, the city’s de facto authority, or a reflection of the situation of the central bank, which is suffering from a financial crisis that threatens to go bankrupt.
As a result of economic mismanagement by the Saudi and Emirati occupation forces, the value of the Yemeni riyal in the occupied southern regions of Yemen has remained consistently lower than in the areas under the control of the National Salvation Government in Sana’a
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Posted by Fred 2023-05-22 00:00||
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