- Yemeni riyal spirals downward in STC militia-controlled Aden

-	Yemeni riyal spirals downward in STC militia-controlled Aden

 

  1. Yemen's currency kept its spiral downwards in the Southern Transitional Council militia's areas of control where the country's legitimate central bank is and in the government-held towns financially affiliate to Aden's bank.
  2. One US dollar traded for 1100 riyals on Saturday versus 1030 at the beginning of the month.
  3. Houthi militants, the originators of the ongoing Yemeni war and economic woes, maintain own illegal central bank and as of early 2020 split the Yemeni riyal and managed to keep theirs – the Saleh-era old bills – almost stable at 600 for the dollar, even though bankers say the stability is illusionary.
  4. The UAE, the creator of the STC militia, has prevented President Abd-Rabbu Mansour Hadi and his government from any real or permanent return to Aden since the city was liberated from Houthis and declared a temporary capital.
  5. In another precautionary measure to make sure that Yemen does not see even a minimal economic wellbeing for the people in the absence of Hadi's authority, the UAE forces divided Yemen's ports to between different anti-government militias and disallowed any use of resources by the government including oil and gas exports from Yemen.

 

 

 

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