Yemen Monitor / Newsroom:
The Yemeni rial maintained its relative stability this Thursday, as foreign exchange rates saw negligible changes across various Yemeni regions, thus maintaining the same levels that prevailed in the recent period.
Banking sources informed “Yemen Monitor” that the exchange rate for the Saudi riyal in exchange shops stabilized at 425 Yemeni rials, while the US dollar remained stable at 1615 Yemeni rials, the same rates traded during the past week.
The sources indicated that these rates are effective in areas controlled by the Presidential Leadership Council. The local currency also continued its stability in areas controlled by the Houthi group, where the Saudi riyal is traded at approximately 140 Yemeni rials, and the US dollar ranges between 535 and 540 Yemeni rials.
This stability comes amidst a continuing economic stagnation and the absence of signs of improvement in the general financial situation, with the ongoing financial fragmentation between the different areas of control and the declining ability of official institutions to regulate the banking market and unify monetary policy.
