Yemeni riyal is experiencing a significant decline, reaching its lowest levels ever against foreign currencies in the parts of Yemen loosely referred to as "government-controlled."
As of Wednesday, the dollar exchange rate was around 2235 riyals for purchase and 2268 riyals for sale, while the Saudi riyal was at 586 riyals for purchase and 590 riyals for sale.
This decline is particularly concerning, given the warnings from a recent UN report about the ongoing food insecurity crisis in Yemen.
In fact, the report noted that the Yemeni riyal lost 26% of its value in 2024 and a staggering 71% of its value against the dollar over the past five years.
The accelerated down spiral of the rial has begun since the S#di removal of Abd-Rabbu Mansour Hadi's anti-Houthi government.