NYN | News
In recent days, Yemen’s internationally recognized government has expanded its field campaigns to monitor markets and control prices in Aden, following an improvement in exchange rates.
Minister of Industry and Trade, Mohammed Al-Ashwal, stated in a press release on Monday that field committees have begun their oversight duties, noting a noticeable level of cooperation from both merchants and citizens. He described the current situation in the markets as a “false increase” driven by unregulated speculation.
Al-Ashwal said that recent reform measures adopted by the government — including the formation of a committee to regulate imports and the suspension of several non-compliant exchange companies — have contributed to a significant improvement in the exchange rate of the Yemeni rial against foreign currencies.
The ongoing oversight measures include requiring traders to publicly display prices, issuing violation reports, and submitting regular updates to the ministry, in coordination with local and security authorities to ensure the smooth operation of the field teams.
Despite the positive signs in the exchange rate, the public remains cautiously optimistic, amid concerns that these measures may have only a limited impact on actual commodity prices in the markets.
