The collapse of the Yemeni riyal does not stop. Bankers in Aden: USD 620 Riyals

The collapse of the Yemeni riyal does not stop. Bankers in Aden: USD 620 Riyals

The Yemeni riyal continues to collapse and has lost 20 riyals in only a few hours against the US dollar, and the dollar has reached 620 riyals, bankers said in the southern city of Aden on Saturday.

In identical statements to the Almasdar online, they stated that the collapse of the local currency was due to speculation in prices and increased demand for foreign exchange, as the central bank and Saudi Arabia did not intervene to save the local currency.

They added that the price of the Saudi riyal amounted to 163 riyals.

Since last Tuesday, the local currency has lost 70 riyals to the US dollar, and 140 riyals a month and a half ago, the biggest loss of riyal since its history.

Until the moment the government did not comment on the collapse of the currency.

A campaign was launched on social media sites demanding that the government and the Arab coalition to intervene to save the local currency, especially as the currency downturn has caused food commodity prices to rise to record levels.

Wholesalers in Aden and the capital, Sana'a, closed their doors because of the high prices, while the prices of medicines jumped to 400%, while fuel prices rose to nearly 9,000 riyals, threatening a major humanitarian crisis.

Yemen is experiencing the world's biggest hunger crisis, with one-third of its population or 18 million people not knowing where their next meal will come from, including some 8.4 million people on the brink of famine. The Food program is currently expanding its assistance to 8 million people per month.


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