A demonstration in Taiz to protest the collapse of the national currency
English - Wednesday 02 September 2020 الساعة 09:52 am
Taiz, NewsYemen:
Hundreds of citizens demonstrated in the city of Taiz to protest against the high prices and the deterioration of the dollar’s price, which had exceeded the threshold of 800 riyals.
The protesters denounced the silence of the legitimate government and its ignorance of the collapse of the national currency, which burdened the citizen with the high prices of foodstuffs.
The demonstration took place in a number of city streets, amid widespread disapproval of the government's absence in developing economic solutions that alleviate the repercussions on citizens.
In a related context, merchants carried out a partial strike that included the closure of their shops, denouncing the fluctuation in currency exchange rates against the Yemeni riyal.
The US dollar crossed the threshold of 800 riyals in areas under the control of Sharia, while the rigidity of banking activity in Sana'a and the scarcity of liquidity from the local currency kept the dollar price above the 600 barrier.
An international economic study predicted the continued decline in the value of the Yemeni riyal to levels exceeding 1,000 riyals to the dollar, with the decline in reserves from the Saudi deposit, the absence of new external support, the decline in oil export revenues, the decline in remittances from expatriates, and humanitarian aid.
