Corrective measures by the Central Bank raise the price of the dollar in Sana’a
English - Monday 01 November 2021 الساعة 07:05 pm
Aden, NewsYemen, Exclusive:
The price of the dollar has crossed the threshold of 600 riyals in Sanaa, which is under the control of the Houthi militia, which has been curbing the demand for foreign exchange since March 2020, and directing it to the liberated areas through its tools of traders and money changers.
The price of the dollar in Sana’a reached 602 riyals during the past two days, and it may continue to rise in the coming days, with the continuation of the actions of the Central Bank of Aden against speculative money changers and manipulators of the exchange rate.
The corrective actions of the Central Bank of Aden were accompanied by the suspension of violating profession practice permits for more than 60 companies, offices and money transfer networks; A Houthi media campaign against the Central Bank, creating an upward rise in the price of the dollar in Aden.
The Houthi media attacks, which described the Central Bank’s actions in Aden as separatist, and the money changers’ response to the Central Bank’s decisions, by raising the price of the dollar to levels approaching 1,400 riyals, are pressures to intimidate the Central Bank of Aden, according to financial experts.
Banking sources told NewsYemen last week that the movement of buying and selling fake foreign currencies in money exchange companies and shops in the capital, Aden, amounts to 500 million Saudi riyals per day, equivalent to 135 million dollars.
It stressed that the exchange companies that manipulate the buying and selling of currency in Aden have their headquarters in Sana'a, and that they move the exchange market in Aden through money transfer networks.
Economists praised the measures of the Central Bank of Aden, and urged the bank to continue its procedures, and not to succumb to the pressures of the lords of currency speculation and corruption, and those who trafficked in the people’s food.
Currency speculation and fictitious operations caused the devaluation of the national currency, the riyal, to record levels, and pushed food prices to rise, causing families to be unable to access food and services.
