Aden exchange companies drain the foreign currencies of citizens in exchange for a fake recovery of the riyal

English - الأربعاء 08 ديسمبر 2021 الساعة 04:54 م
Aden, NewsYemen, Exclusive:

The exchange companies in Aden and currency speculators took advantage of the fake riyal’s recovery, which they published through low numbers of foreign currencies, in conjunction with the appointments and restructuring of the Central Bank in the capital, Aden, and they drained the remaining currencies in the possession of citizens.

In parallel, banking and local sources confirmed, on Tuesday, that exchange shops buy foreign currencies from a large number of citizens at low prices, and they themselves do not sell at these prices to citizens, in conjunction with the exchanges closing their shops only in the capital, Aden, four days ago, with the decline of the local currency, meaning that the exchange companies in the rest of the liberated provinces, didn’t close as if the association's decision did not concern them, which shows the extent of their continued criminal activity that caused the collapse of the economy.

The price of the Yemeni riyal rose slightly against the dollar, and scored 1257, while it recorded 340 against the Saudi, to return to the decline today again.  Controversially, the Aden Central published the exchange rates at higher rates than the money exchangers.

One of the citizens confirmed to NewsYemen that the exchange shops refused to sell foreign currency to him, and asked him to go to a black market party that sells the currency at high price estimated at 430 Saudi riyals.

Member of the Supreme Anti-Corruption Commission, a.  Abdullah Al-Ghaithi, said in a tweet, after they looted the national currency from the pockets of the citizens, by dropping its purchasing power, now the second half has begun to loot the hard currencies of the citizens by raising the exchange rate of the Yemeni riyal to the dollar and the Saudi riyal with the survival of its collapsed purchasing power as it is.

And he warned, in a previous tweet, that the Yemeni riyal is destined to decline, and the rise in its exchange rate is a temporary and short-term process, because it does not reflect a real improvement in the national economy.

He stressed that the decline in the prices of the dollar and the Saudi riyal against the Yemeni riyal is a fraud, unless this is accompanied by a drop in the prices of goods and services equal to the percentage of the decline in the exchange rate of the dollar and the Saudi riyal.

Journalist Abdul Rahman Anis had warned immediately after the new appointments were issued, in a tweet, in which he said: "If you have savings in the currency, do not spend it if you do not need it.. Wait until everything becomes clear."

He added: "For information, exchange shops in Aden have been closed for three days. Everything that has been published about the drop in exchange rates is the work of fraudsters, behind which are currency speculators who want to withdraw people's savings."