Association orders to suspend trade in foreign currencies in south Yemen

Debriefer
2021-07-06 | Since 3 Month

The worst depreciation of the rial in more than 6 years

ADEN (Debriefer)--The Yemeni Exchangers Association on Monday ordered to suspend trade in foreign currencies in south Yemen as of Tuesday after the national currency dropped to the lowest level since the war began more than six years ago.

The Yemeni rial is trading at 955 per US dollar, exchangers said today, down from 940 a week ago and from 250 in 2014.

The association has  however, allowed exchangers to resume remittances among provinces, a week after the Central Bank of Yemen ordered to suspend all transfer services.

Meanwhile, in Sanaa, the rial is stable as the Houthi group is seeking to tighten grip on the financial sector.

Exchangers said the rial is trading at 597 per US dollar in all regions controlled by the group.


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