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Yemen currency plunges after decision to shut down port

A bank source in Sanaa said the dollar exchange rate increased Monday from 214 riyals to 236 riyals

Published: Updated:

Yemen’s riyal plunged against foreign currencies after an announcement that Al-Hudaydah port would be shut down, due to the conflict in the country, and all ships diverted to Aden’s ports.

A bank source in Sanaa said the dollar exchange rate increased Monday from 214 riyals to 236 riyals, adding that the sudden rise was a first since the 2011 revolution.

However, companies and money exchangers did not sell dollars on Monday as it was not available on the market.