Pricing chaos and the collapse of the riyal preys on the salaries of Yemenis, and there is no ceiling for the rise in the price of the dollar
English - Wednesday 09 June 2021 الساعة 10:48 am
Aden, NewsYemen, Exclusive:
The rapid collapse of the value of the riyal violated the ceiling of logic in Yemen, and observers suggested that the worst was yet to come, as citizens were worried about the continued loss of the currency against the dollar in the past days, after informed sources confirmed that the Hadi government had completed arrangements to transfer its headquarters and its financial and banking institutions to Seiyun Hadramout and waiting for its official launch.
The collapse swept the Yemenis' diaries upside down, as they incur heavy losses in the value of their savings and salaries, as the minimum wage is thirty thousand riyals for retirees and 60,000 riyals for employees.
Following the collapse, the prices of basic materials rose, in light of a great chaos in pricing between one store and another, and the high prices of loaves and bread, which burdened the citizens, as the loaf of bread is no longer accessible to everyone, while some spend their salary on the needs of a few that do not rise to the required level of provision Basic material for living.
Under this suffering, the family, consisting of 4 people, is now buying 7 breads at a price of 40 riyals per one and for one meal only, costing them the equivalent of 9,000 riyals per month, and at a rate of 18,000 riyals per month for two meals, as this amount represents two-thirds of the pensioner’s salary, and half the salary of the government employee. of the third degree.
The price of the dollar rose to 950 riyals, and the Saudi riyal to 246 riyals during the transactions of the past two days, driven by fears and uncertainty about what will happen to the situation in the coming period, while the number of people now living in poverty reached about 78%, according to World Bank data.
The United Nations had warned, earlier, that the rise in food prices in Yemen - up to 200% above pre-war levels - has put food out of the reach of millions, pushing the country towards dangerous and unprecedented levels of famine.
To make matters worse, the Central Bank failed to recover Yemeni deposits from Lebanon’s banks, after the Yemeni ambassador in Beirut, Abdullah Al-Deais, demanded from the Governor of the Banque du Liban to intervene in order to release the Yemeni funds, which are estimated at about $300 million, as they are to cover the purchase of commodities. and that delaying the payment of benefits entails significant financial and legal consequences.
