Yemeni riyal is collapsing... Famine knocking the doors of millions of citizens: Economists warn
The Yemeni riyal continues to lose its value in front of foreign currencies in the city of Aden (south of Yemen) and the rest of the liberated areas, while economists again warned against the specter of famine knocking the homes of millions of Yemenis.
Banking sources confirmed to Khabar Agency, that the Yemeni riyal has collapsed again in the various liberated Yemeni regions, as the value of the US dollar ranged today, Sunday, May 23, 2021, between (913 - 915) riyals for purchase, and (922) for sale, and (240- 241) to buy the Saudi riyal, and (242) riyals for sale.
The collapse that occurred was not surprising as much as it renewed the past two days, while the continuous collapse began in the first quarter of the year 2020, after the value of one dollar had witnessed relative stability between (520-570) during the previous months.
During the last six years, the national economy witnessed a major collapse due to the war that the Houthi militia ignited at the end of 2014, and is still until the moment, as the riyal lost its value by more than 400 percent in the largest economic collapse the country has witnessed in decades.
While economists warned against entering the national economy into a stage of clinical death after the famine spread to various parts of the country, which puts saving the economy on the line, UN reports had revealed in previous periods that more than 80 percent of Yemen's population of about 30 million people needed urgent aid.
In addition to the collapse of the health sector and the spread of epidemics, the Yemeni government is still dealing with all of this with media statements and promises, the price of which is often paid by millions of civilians, whose segments varied between those who lost their jobs or were forcibly removed from them, and others who were displaced from their homes due to the war.
In recent months, the prices of commodities and foodstuffs have increased in a frenzy, ranging between (50-80) percent, while that increase has exceeded 450 percent during the last six years.
In the context, citizens demanded from the concerned authorities to hold full responsibility and search for a representative from among the active parties in the local arena, and to quickly complete the liberation of the country from the hand of the Iranian-backed Houthi militia.