Yemen currency collapse is ignored epic catastrophe in the way

Yemen currency collapse is ignored epic catastrophe in the way

 

2020-05-21

The Yemeni Riyal seems to be wanting to overtake the Syrian Lira in collapse. Within the past two months the Riyal has lost almost 12% of its value depreciating from YR 160 to 183 versus the Saudi Riyal.

The continuous unrest and recent coup by separatists in the country's interim capital Aden, the broad-day-light looting of YR 35 billion (roughly USD 5 million) from the central bank last week, the country's shut-down because of coronavirus, the lack of revenues in hard currency and other reasons are hastening the depreciation of the Riyal.

In a world obsessed with coronavirus spread, the issue is not drawing attention and is likely to turn to an epic catastrophe in a country already suffering the world's worse humanitarian crisis.

 

 

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