Yemen's financial division.. Continuous monetary crises strain the economy

Economic analyst Wahid Al-Foudai told Al-Araby Al-Jadeed, “Unifying the exchange rate requires close coordination between the two central banks in Aden and Sana’a, including unifying monetary and financial policies. Comprehensive economic reforms must be undertaken to improve the general financial situation, including enhancing confidence in the local currency and improving the business environment.”

The economic analyst added that the stability of the security and political situation is an essential element for achieving the unification of the exchange rate, as stability enhances economic confidence and reduces risks, and international support can play an important role in unifying the exchange rate by providing financial and technical assistance to support the economy and enhance the stability of the currency.

The economic analyst pointed out that it is difficult to determine an accurate exchange rate in the event of currency unification due to many variable and influential factors, as the price will be subject to supply and demand factors, but the unified exchange rate can be estimated based on current data, as the price may range between 1000 and 1200 Yemeni riyals against the US dollar, taking into account possible improvements in monetary and economic policies after unification.

New Arab