Yemen currency loses further value against other currencies

Yemen currency loses further value against other currencies

Yemen's rial currency lost further value versus other currencies as foreign cash is in short supply in the country, it is being reported.

A US dollar is traded this Tuesday for 1185 rials up from 1135 rials at the beginning of this December.

The US dollar equaled 115 rials before the beginning of the war in 2015 and the drastic fall of the rial has since brought the country to a famine-like condition.

The told narrative is that recent attacks by a Houthi drone alle gedly managed to drown oil pumping machines in Yemen's eastern oil exportation terminal of Aldhaba rendering the terminal out of service, thus cause crude exports to stop, state revenues to shrink and, as a result, the currency's value to fall again.

 

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