Strike of the money changers in Yemen due to the collapse of the local currency

The Association of Exchangers in Yemen’s temporary capital Aden announced a global strike starting Saturday, against the backdrop of the unprecedented collapse of the local currency, after the US dollar crossed the barrier for the first time in its history. 1,700 Yemeni riyals.

On Friday evening, the association issued a statement to exchange offices, companies and local transfer networks, stating that it was decided to suspend all exchange activities from Saturday to Monday. This includes all companies and institutions in the banking sector, their branches and service counters.

The Assembly reiterated the call of the Yemeni president to take urgent decisions to stop the sharp deterioration in the exchange rate of the local currency.

Strike of the money changers in Yemen due to the collapse of the local currency
A pack of Yemeni riyals in an exchange office in Aden

The association announced Thursday its support for the Aden Chamber of Commerce and Industry’s invitation to all interested parties to come together, meet and consider a way to overcome the crisis.

He called on the Yemeni president to “hold firm to what is dictated by the duty to remedy the situation”, in in order to guarantee the return to the normal situation of the economy and the stability of the local currency.

The Yemeni riyal recorded a new collapse record against foreign currencies, after the US dollar hit the 1,700 riyal barrier for the first time in its history.

The collapse of the Yemeni riyal portends serious and devastating repercussions at all economic, housing and humanitarian levels, leading the country to enter in a phase of real famine after the recent sharp rise in food prices.

From a fish market in Aden
From a fish market in Aden

On Thursday the Chamber of Commerce and Industry of the provisional capital, Aden, called on the Yemeni president to take urgent measures to stop the collapse of the local currency, warning of a famine.

The Chamber of Commerce has also invited all national traders, importers and producers of food products to an urgent meeting to study possible solutions to ensure the continuous flow of food products to citizens. in amid the accelerated collapse of the currency.

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