Currency continues to depreciate, Yemenis are caught in the dilemma of "wages unable to buy rice."
Recently, the currency in the government-controlled areas of Yemen has been continuously depreciating, with the exchange rate falling below 2900 Yemeni riyals to 1 US dollar, hitting a historic low. The severe currency crisis highlights the ongoing deterioration of the local economy in Yemen, exacerbating the survival pressure on the Yemeni people. With the sharp decline in the exchange rate, prices are soaring, weakening the purchasing power of the Yemeni people and making everyday life extremely difficult. In the midst of a severe currency crisis, Yemen's oil export income has sharply decreased, foreign exchange reserves are depleted, and the government has been unable to come up with a viable solution, causing the people's confidence in the national currency to plummet to its lowest point and leaving them uncertain about the future.
Latest