Yemen’s currency sinks to historic lows, worsening famine risk
- Date: 14-Jul-2021
- Source: Jordan Times
- Sector:Financial Markets
- Country:Saudi Arabia
Yemen’s currency sinks to historic lows, worsening famine risk
ADEN "” Yemen's currency, the riyal, has sunk to historic lows in recent days, in a new threat to the war-torn country which is already on the brink of famine.
In the government-controlled southern capital of Aden, the dollar is trading at more than 1,000 riyal, the highest rate since the war began in 2014, when Iran-backed Houthi rebels seized the northern capital of Sanaa.
The currency has lost some 6 per cent in the south in the past three weeks. Meanwhile, the riyal trades at about 600 riyals to the dollar in rebel-controlled areas, which stretch across much of the country's north.