Recent reports reveal that the dollar has reached an exchange rate exceeding 1,535 Yemeni riyals, while the Saudi riyal stands at 408 riyals. Despite this alarming trend, the Saudi-backed government has not implemented any economic reforms aimed at stabilizing the local currency against its foreign counterparts.
Economists attributed the continued collapse of the local currency to several factors, including the deepening of corruption in the pro-aggression government, in addition to the impact of the news circulating about the near depletion of foreign exchange reserves at the Central Bank in Aden.
The economic measures enforced by the Saudi-backed government have significantly impacted the living standards of Yemeni citizens, particularly in the southern regions. These actions compound the immense hardship caused by the ongoing US-Saudi blockade and aggression.
Aden and other southern governorates grapple with pervasive security issues, including daily crimes and instability. Forces aligned with the US-Saudi aggression and Saudi-Emirati occupation maintain control, contributing to a climate of chaos. The region witnesses frequent abductions, bombings, and factional clashes as various groups vie for power. Additionally, there has been a troubling increase in targeted assassinations, affecting military personnel, security leaders, religious figures, and social leaders across southern Yemen.
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