Famine is approaching... and the death of the Yemeni riyal provokes anger on the communication sites
English - Thursday 29 July 2021 الساعة 11:55 am
Aden, NewsYemen, special:
The continuous and unprecedented collapse of the Yemeni currency sparked outrage on social media, at a time when the dollar exchange rate approached the 1020 Yemeni riyal barrier.
Angry interactions emerged through the hashtag (#Save the Yemeni riyal), after the Yemeni riyal lost 90% of its value, and the poor’s food staples will rise insanely, and that alone is what causes despair.
The Assistant Secretary-General for the Presidency of the Transitional Authority, Fadel Al-Jaadi, indicated that the government’s decision to raise the price of the dollar for customs in the port of Aden from 250 to 500 riyals, will certainly lead to a real famine and a catastrophe at all economic, social and security levels, stressing that it is a decision that repels supplier traders and targets Shell. The movement of the port of Aden, and should be undone.
For his part, journalist Alaa Adel Hesh said, “The currency is completely collapsing in front of the eyes and ears of the Yemeni legitimacy from a president, a deputy, and a prime minister, and no one moves about it, so President Al-Zubaidi appears to hold a meeting with the Economic Committee and the Southern Money Exchange Association, trying to do what can be done to avoid The economic fall, adding that a sense of responsibility stems only from those who feel the citizen.
Tweeters stressed that they do not hope that the legitimate government will fix the conditions of the south, as it is the one who caused because of its corruption, and the death of hunger and suffering in the southerners and the liberated areas.
According to economists, this decision will have catastrophic consequences for the economy, and will hit the rest of the activity in the local market and end the navigation movement in the port of Aden, as it led to an accelerated and unprecedented decline of the Yemeni riyal, which recorded 1020 against one dollar.
The collapse damaged business activities, and many merchants and owners of small businesses said on their personal pages that the rise in the dollar exchange caused them great losses in buying or selling, and they began to think seriously about dealing with the Saudi riyal during buying and selling, to preserve their capital.
The devaluation of the riyal will lead to high inflation and exacerbate difficulties at a time when the liberated areas are facing difficulty in providing the price of basic food, electricity and the most basic of other basic needs.
