Aden Airport explosion forestalls expected improvement in Riyal value

Aden Airport explosion forestalls expected improvement in Riyal value

By Nadhem Alaleemi

Op-Ed

The Riyal's value which is depreciating since the beginning of the war plunged to its lowest value ever on December 11, as low as YR 910 versus one US dollar.

Since the social media gossip plays a significant role in affecting the value of the Riyal, the talks after December 11 that a government would be formed sparked optimism and caused the Riyal to recover some value. The formation and swear-in of the new unity government by December 27 prompted optimism and caused the Riyal to recover more value. The exchange rate of the Riyal became 647 versus one US dollar. It was highly expected the government's return from Riyadh to Aden would cause the Riyal to regain even more value. But the bad start, this explosion the arriving government was received with, will apparently stop the good streak. Unlucky Yemenis.

 

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