Yemen currency begins to lose value again

Yemen currency begins to lose value again

Yemen's riyal has begun to lose value again after a temporary improvement sparked last month sparked by the promises of a Saudi financial deposit to the central bank in Aden.

The riyal plummeted in early December to an all-time low and stood at 1703 for the US dollar as the country faces political instability, ban on exports and currency speculation by Houthi Shia extremists controlling the capital Sana'a and most of the country's north.

The humanitarian conditions worsened to dangerous levels and protests erupted. A secret oral deal was reportedly agreed between President Hadi and the Arab Coalition to deduct more from the former's already weak power in the country (replace Shabwa province governor with a UAE loyalist) and get a financial deposit to help the riyal's recovery. Hadi named a new central bank governor, honored his part of the deal by sacking provincial governor Bin Edeiw – despite popular protests against the decision- and the riyal improved within days and recovered more than half its value at the end of last month with the dollar being offered for 599 riyals. But as the deposit has not yet arrived, the exchange rate of the riyal has begun to fluctuate lose value again, and the US dollar is being now traded for 750 riyals.

القائمة البريدية

أشترك معنا في القائمة البريدية لتصلك كل الاخبار التي تنشرها الصحوة نت

تواصل معنا

الجمهورية اليمنية

الصحوة نت © 2021 م

الى الأعلى