NYN | News
The economic crisis in Yemen continues to escalate catastrophically, as currency exchange shops in Aden have stopped buying and selling foreign currencies due to the historic collapse of the Yemeni riyal, which has surpassed the 2379 riyals per dollar and 622 riyals per Saudi riyal threshold. This is a clear indication of the failure of the Saudi-Emirati coalition’s policies and the Presidential Council, which is loyal to them, in managing the crisis. Instead, they are using it as a “tool for collective punishment” against a people suffering the horrors of war for a decade.
Furthermore, the exchange rates on Thursday, February 13, 2025, revealed a huge gap between the riyal’s value in Aden, which is controlled by the Presidential Council supported by the coalition, and the value in Sana’a. In Aden, the dollar was purchased for 2346 riyals, while in Sana’a it was only 534 riyals. According to economic experts, this exposes a systematic policy to “destroy the economy in areas controlled by the Aden government” by flooding the market with unbacked printed currency, as part of an economic war designed to force Yemenis to submit to the desires of the coalition’s interests by starving them.
In a statement to “Yemen New News,” financial expert Abdullah Abbas described the current collapse as a financial crime added to the record of the coalition and the Presidential Council. He pointed out that the deliberate halt in the flow of hard currency and the unrestrained printing of the riyal have led to the death of the purchasing power of citizens’ incomes, in a strategy of collective punishment for a people who refuse to comply with partitionist projects.
In related news, banking sources in Aden revealed instructions from members of the Presidential Council not to intervene to stop the currency’s collapse. Economists have blamed the corruption of the ruling elite in Aden, who are enriching major traders through currency smuggling, while ordinary citizens face a tragic fate with soaring prices for food and medicine.
Exchange Rates – February 13, 2025:
- Aden:
- Dollar: Buy 2346 ░ Sell 2379
- Saudi Riyal: Buy 615 ░ Sell 622
- Sana’a:
- Dollar: Buy 534 ░ Sell 537
- Saudi Riyal: Buy 139.8 ░ Sell 140.2
