Yemeni Riyal Has Lost 22% of Its Value in Aden since Last April: UN Report Says
The United Nations Office for the Coordination of Humanitarian Affairs in Yemen announced that the Yemeni riyal has lost 22% of its value in the areas under the control of the Saudi-led coalition since April, 2022.
This comes amid a continuous collapse of the Yemeni riyal in the areas controlled by the coalition since August 2018, as a result of which the Yemeni riyal in those areas lost nearly 300% of its value in those areas, according to a report issued by the World Bank in 2020.
A report issued by the United Nations Coordination for Humanitarian Affairs confirmed that the Yemeni riyal has maintained its value to a large extent and remained stable in the areas under the control of the National Salvation Government in Sana’a, with an average of 560 riyals to the US dollar.
The food prices rose during the past year in all Yemeni provinces, without exception, due to the global increase in food and fuel prices, according to the report.
The report attributed the rise in prices in the areas under the authority of what it called “Houthis” to the restrictions imposed by the coalition on imports coming to the ports of Hodeida, which are under the control of the Sana’a government.