Yemen Monitor/Marib/Exclusive:
The UN envoy’s office in Yemen stated that it is currently in discussions with the Houthi group and the internationally recognized government to “unify the exchange rate” across the country.
The Middle East newspaper quoted an official from the envoy’s office as saying that ongoing consultations and discussions are being held with officials from the Central Bank in Sana’a and Aden to find technical and sustainable solutions to prevent a deeper economic collapse. These solutions include assessing the optimal money supply and unifying the exchange rate nationwide.
The official added that the envoy had conducted discussions on this matter in Sana’a earlier this month, emphasizing that “a unified currency and a unified banking sector bring financial strength and stimulate the economy.”
The statements from the UN envoy’s office come as the Yemeni government (internationally recognized) is attempting to control the sharp decline in the national currency amid deteriorating economic and living conditions in the country, following nearly 10 years of the Houthi group’s coup and their forceful control of the capital, Sana’a.
On Thursday, the Yemeni riyal reached a record low in the liberated governorates against foreign currencies. The purchase price of the US dollar against the Yemeni riyal reached 2026 riyals, and the selling price reached 2050 riyals, while the purchase price of the Saudi riyal reached 532 riyals, and 535 riyals for sale. In Sana’a, the exchange rate is 532 riyals for the dollar and 140 riyals for the Saudi riyal.
