Yemeni Monitor/Newsroom
The Yemeni rial on Tuesday approached a barrier of 1,900 rials to sell one dollar in unofficial morning trading in areas under the control of the internationally recognized government.
Banking sources said that “the Yemeni rial recorded 1,884 rials against the dollar today, Tuesday, in the temporary capital Aden, while the Saudi riyal recorded 492 rials, which is the lowest level reached by the national currency in Yemen since the start of the war.”
The continuous collapse of the Yemeni currency comes despite the expiration of the deadline set by the Central Bank of Yemen in Aden last June for exchange companies and establishments to switch to the unified transfer network, cancel all private networks, liquidate operations, and give banks a deadline until the end of this July.
It also comes amid circulating news (the accuracy of which has not been verified) indicating Saudi Arabia’s intention to grant the Central Bank of Yemen a new deposit and cancel financial transfers from the Kingdom to Sana’a and areas controlled by the Houthis.
