After the collapse of the riyal and the closure of exchange shops ... the emergence of a black exchange market in Aden
English - Monday 15 June 2020 الساعة 09:10 am
Aden, Newsyemen, private:
In the capital Aden, a black exchange market spread in Sheikh Othman directorate after the closure of the exchange companies.
This came after the central bank was mandated to accompany members of the Public Funds Prosecution campaign against exchange companies that the bank accused of "manipulating the exchange rate and causing the collapse and deterioration of the value of the local currency against foreign currencies."
Newsyemen monitored some of the opinions of citizens in Aden on the social media, where Ashraf Mohamed said, "Black markets are back they buy and sell on the streets, and these are the methods of money traders."
Saad Al Saadi said that a huge number of money exchanges in Aden is considered a black market because it does not have any government permits, and the capital recently witnessed the opening of a huge number of money exchange shops.
In this context, Jihad Al-Khader said that these methods are nothing but saving and increasing the demand and supply of currency without a process of balance.
It is reported that the central bank obligated exchange firms to exchange the dollar for 685 Yemeni riyals and Saudi riyals 181 riyals, while the exchange rate of the US dollar reached 755 riyals and Saudi riyals 198 riyals.
