NYN | News
The internationally recognized Yemeni government has failed to maintain exchange rate stability despite generous and ongoing support from the Gulf coalition countries.
The Yemeni rial has suffered another catastrophic collapse in the provinces under the control of the Aden-based government backed by the coalition, amid a dramatic surge in food prices.
According to banking sources, the exchange rate of the U.S. dollar in the temporary capital, Aden, has exceeded the 2,500 rial mark, reaching 2,506 rials for selling and 2,480 rials for buying. Meanwhile, the Saudi riyal rose to 657 rials for selling and 652 for buying — an increase within 24 hours of 31 rials for the dollar and 8 rials for the Saudi riyal.
This surge is part of a series of collapses the Yemeni rial has experienced in recent weeks in areas under the internationally recognized government’s control.
Economic observers have warned of the consequences of this deterioration, noting that Aden is on the verge of a full-scale economic disaster amid the absence of any effective government intervention. The government is facing accusations of failure and corruption, which only deepens the suffering of the population and intensifies the living crisis.
In contrast, exchange rates in Sana’a have remained stable as usual, despite the intense American aerial bombardment of provinces under the control of the Sana’a government. The Saudi riyal remains at 140 Yemeni rials, while the U.S. dollar stands at 530.50 Yemeni rials.
