Yemen currency crash has ‘done more damage’ than war, experts say

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Fri, 2020-07-24 01:18

AL-MUKALLA: The depreciation of the Yemeni currency has caused more damage to Yemenis than the raging conflict in the country, economists and locals have said.

The Yemeni riyal traded 752 against the US dollar on Thursday’s black market for the first time in two years, falling from 700 in recent weeks. The riyal was 623 at the beginning of the year before slowly falling to 680 over the following six months. In January 2015, the riyal was 215 to one dollar.

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