Hadhramaut authorities shut down exchange shops in Seiyun
English - Monday 27 July 2020 الساعة 06:17 pm
Seiyun, Newsyemen, Private:
The security authorities in the city of Seiyun, the largest city of Wadi Hadhramaut , closed Monday, exchange shops and banks, against the backdrop of high foreign exchange rates against the local currency.
Local sources told "Newsyemen", that military units from the Special Task Force (Central Security) of the Security of Wadi and Hadhramaut desert interfered in the closure of various exchange houses and banks by force, according to the directions of the local authority.
The move came in response to money exchanges' money laundering and currency manipulation, which could lead to the collapse of the Yemeni riyal and the rise in prices of basic food and clothing items.
The Saudi riyal exchange rate, at noon today, in Seiyun reached 197.3 against the local currency, while the US dollar reached about 751.
Humanitarian situations worsened in the cities of Hadhramaut, as a result of high prices, affected by the exchange rates of foreign currencies.
