Food prices skyrocket as currency plunges to a new low ...Yemen

Republican Yemen Yemen’s currency has hit a new low, triggering food costs to soar in areas under the control of the internationally recognized government. The Yemeni riyal plummeted Thursday to a very low in the financial market, with 1277 riyals to the US dollar in Yemen’s interim capital Aden. Residents in the port city of Aden said all food prices soared due to a sudden drop in the currency’s value after it remained relatively stable in the past months. The legitimate government seems to have lost control of the chaotic exchange system, holding the Iran-backed Houthis responsible for the deterioration of the currency value. Since October, the Houthi rebels have launched drone attacks tar

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Last updated : 05 January 2023 clock 09:56 PM

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Food prices skyrocket as currency plunges to a new low ...Yemen

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