National currency continues devaluation

National currency continues devaluation

Alsahwa Net- The devaluation of the Yemen's national currency continues amid soaring prices of the food stuff.

Sources of the money exchange service said that the devaluation of the Yemeni Rial continues with no intervention yet by the government to retain the value of the currency.

The exchange price of USD one exceeded YR780.

The exchange rate of the SR has also gone up YR200 per SR one. This rate increase has been the highest since the Houthis implemented their coup against the government in 2015.

This brought bad consequences on the price of foods which aggravates the deteriorating living standards across Yemen.

The devaluation of the YR and the soaring prices of foods coincide with loss of incomes among the citizens who bear consequences of the war caused by political upheavals.

The suspension of Yemen’s oil and gas exports, bad governance and the ongoing conflict have been blamed for the devaluation of the YR.

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