Amidst illusionary riyal stability, Sana'a residents complain of soaring prices

Amidst illusionary riyal stability, Sana'a residents complain of soaring prices

 The people of the Houthi militia-controlled Sana'a are complaining of a soar of the prices of essential commodities and services despite the stability of the riyal's exchange rate versus the US dollar compared to the liberated territories.

Residents in Sana'a have said, "The prices of essential goods are increasing on a daily basis" adding that most foodstuff like flour and sugar have shot up high amidst wretched economic conditions that the population under Houthi control are suffering.

They expressed surprise "that goods prices are increasing despite the [Houthi version of the Yemeni] riyal's value being stable at 600 against the dollar.

Economic researcher Abdulwahed Al-Awbali said, "The low exchange rate of the US dollar in Houthi areas is illusionary. The Houthis impose this rate by the power of the gun. Had there been a real stability of the riyal, goods' prices would've been stable, not soaring."

He added, "The rise of goods in Houthi areas is a result of the fall of the version of the riyal in the government-controlled areas."

  • Translated story from Bawabati website

 

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