The One to Blame for the Collapse of Local Currency Is the Ex-President’s Government in Riyadh: Payments Committee

Yamanyoon

The Committee on Payments and Foreign Exchange: the government of the exiled ex-president, Hadi is to be held responsible for the deterioration of the local currency as a result of printing large amounts of it, which led to the rise of a foreign exchange rate.

The Committee pointed out that the development of channels for the sale and purchase of foreign currency with a huge difference in rate made it possible to speculate in prices and the deterioration of the value of the Yemeni riyal.

Committee also pointed out that the rise of the exchange rates is due to an immoral economic war.

Regarding the avoidance of going to the worst and confronting the economic war imposed by the Saudi aggression and its mercenaries, the Committee affirmed that it is in the process of developing solutions and possible alternatives in order to provide the needs of commercial movement and to harness the sources of foreign exchange at appropriate rates that are will be reflected in commodity prices.

The Payments Committee confirmed the existence of an operational plan to legalize the import invoice to reduce pressure on the market and encourage domestic production.

The committee called on all sides of the market to discipline and not to create tension through operations of requests and purchase without realizing the results.

The committee revealed the success of verification and stabilization of the price of the riyal, before the government in the Saudi capital, Riyadh, which is affiliated with the exiled ex-president, Hadi of fabricating lies about fictional deposits in order to create confusion in the market, which has pushed the riyal to further collapse.