Yemen Monitor – Newsroom:
The Yemeni national currency continued its upward trend on Friday in areas under the internationally recognized government, showing further recovery against foreign currencies, particularly the Saudi riyal and the US dollar.
According to banking sources, Friday evening’s exchange rates stood at approximately 500 Yemeni riyals per Saudi riyal for buying and 540 for selling. The US dollar was trading at 2,095 riyals for buying and 2,295 for selling—slightly improved from Thursday’s rates.
By contrast, exchange shops had closed Thursday evening with higher rates: the Saudi riyal was at 540 riyals for buying and 580 for selling, while the US dollar stood at 2,057 riyals for buying and 2,225 for selling.
This decline in exchange rates builds on the unexpected surge in the Yemeni rial since Tuesday evening, when the dollar rate dropped to 2,720 riyals after peaking at 2,838 earlier that day.
Citizens hope that the currency’s recovery will lead into lower prices for basic goods, amid growing calls for tighter market oversight and stronger enforcement against price manipulation.
