The Yemeni exchange markets witnessed a sudden decline in the prices of Arab and foreign currencies at the beginning of today’s trading, Thursday, February 29, 2024. The exchange rate of the Saudi riyal in the capital, Aden, recorded 438 riyals for purchase and 440 riyals for sale, while in Hadhramaut it reached 438 riyals for purchase and 440 riyals for sale. .

These developments come after foreign and Arab currencies witnessed jumps on a long-term upward trend, with no signs of resolving the crisis of the weakness of the local currency, due to the absence of the role of the central bank and the failure of financial policies.

The suffering of the common citizen:

The simple citizen alone suffers enormous suffering as a result of the exchange rates reflecting the value of food items and the costs of services such as transportation, in light of the interruption of salaries and the collapse of the main service sectors.

Absence of serious treatments:

The Central Bank’s actions lack seriousness in confronting the threat of the foreign and Arab currency exchange crisis, especially with its doubling in a short period.

Rates of other currencies:

The exchange rate of the dollar in Aden and Hadhramaut today reached 1662 riyals for purchase, compared to 1674 riyals for sale. While the exchange rate of the dollar in Hadramaut recorded 1660 riyals for purchase and 1673 riyals for sale.

Impact on living life:

The rise in foreign currency prices is a heavy burden on Yemeni citizens, as it leads to an increase in the prices of basic goods and a deterioration in purchasing power.

Future expectations:

It remains unclear whether this decline in currency prices is temporary or the beginning of a new trend. While Yemeni citizens are impatiently awaiting radical solutions to the currency crisis that exacerbates their suffering.