News - Yemen:  The Yemeni riyal exchange rates continued to deteriorate significantly against foreign currencies in the occupied governorates reaching 942 riyals per dollar. The Yemeni riyal exchange rates have stabilized in the areas under the control of the Salvation Government, reaching 565 riyals to the dollar.

The deterioration of the local currency comes as a result of the pro-Saudi government printing one trillion and 800 billion riyals of illegal currency without a cash cover last year, in addition to its acquisition of all fuel revenues in the southern governorates, and their transfer to a special account with the National Bank in Riyadh.

Earlier, hundreds of angry protesters blocked the road linking Hadhramaut and Al-Mahra governorates, in eastern Yemen. According to YPA, well-informed local sources reported that angry demonstrators blocked the Eastern Reid Road linking Hadramawt and the city of Ghaydah, the capital of Mahra, due to the deterioration of basic services, including electricity, during the fifth day of protests taking place in Mukalla, the oil capital of Hadhramaut.

Saudi Arabia, backed by the US and its other regional allies, launched a devastating war on Yemen in March 2015. The seven years and half of war has killed hundreds of thousands of people and destroyed much of the country’s infrastructure. Yemeni people are facing malnutrition, hunger, and famine, which have increased risks of disease and starvation.

Occupied southern governorates are witnessing a tragic situation, high crime levels, currency deterioration, and rising prices. They have witnessed protests and sit-ins during the last period, due to the worsening humanitarian and economic conditions.