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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

Economic Crisis Hits Aden as Currency Depreciates, Prices Soar

News - Yemen: News out of Southern Yemen indicates that the rise of the dollar and the Saudi riyal is significantly affecting living conditions in the city of Aden. The impact has been exacerbated by recent fuel sales restrictions imposed by the pro-aggression government.

 

The Yemeni rial has seen a steep decline, reaching a selling price of 1,546 rials against the US dollar, and a buying price of 1,537 rials. The Saudi riyal, meanwhile, experienced a slight increase, with a selling price of 406 Yemeni rials and a buying price of 404 rials in the past few hours.

Economists attribute this ongoing devaluation of the local currency to various factors, including heightened corruption within the pro-aggression government and concerns surrounding dwindling foreign exchange reserves at the Central Bank in Aden.

This worsening situation is directly impacting the prices of essential commodities, particularly food and medicines, which have surged by nearly 10% over the past two days.

The Saudi-backed government is implementing economic measures that directly affect the quality of life for Yemeni citizens, particularly in the southern regions. These measures exacerbate the already dire suffering caused by the US-Saudi blockade and aggression.

Aden and the southern governorates are grappling with security chaos, daily crimes, and instability, with the forces of the US-Saudi aggression and Saudi-Emirati occupation in control. These issues include abductions, bombings, and clashes among factions vying for influence, as well as a concerning rise in assassinations targeting military personnel, security leaders, religious figures, and social leaders in southern Yemen.
 

#Yemen #Aggression 23-12-07
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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

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