Yemen Monitor/Newsroom:
Yemeni markets witnessed a sharp collapse in the value of the Yemeni rial against the US dollar today, Thursday.
Banking sources reported that the exchange rate in the interim capital, Aden, reached 2,366 riyals for purchase and 2,383 riyals for sale. The Saudi riyal also reached 621 Yemeni riyals for purchase and 624 riyals for sale.
Economic experts say that the continued deterioration is exacerbating the suffering of millions, amid warnings of a complete economic collapse.
The collapse of the exchange rate comes amid escalating US airstrikes on Houthi-controlled areas and the resurgence of military conflict in the Red Sea, the Gulf of Aden, and the Arabian Sea. Since last Saturday evening, the US military has launched a series of raids on eight governorates under Houthi control: Sana’a, Saada, Hodeidah, Dhamar, Hajjah, Al-Jawf, Marib, and Al-Bayda.
