Yemen Monitor/ Aden/Exclusive:
The Yemeni Rial experienced a severe crash in areas under the control of the internationally recognized government on Monday, marking an unprecedented decline in the country’s history.
Money changers in Taiz and Aden told Yemen Monitor that the Yemeni Rial is plummeting. The exchange rate reached 2151 Yemeni Rials for one US dollar and 2144 Rials for buying, while the Saudi Riyal reached 562.5 Yemeni Rials for selling and 562 for buying.
This comes despite the announcement of a new $300 million Saudi deposit to the central bank at the end of December.
The government has yet to comment on the rapid collapse. Money changers attribute the decline to a shortage of foreign currency in the market.
The Houthis have continued to halt oil exports since October 2023, after threatening to attack ports and vessels that dock to purchase oil from the government.
