The Southern Money Exchangers Syndicate in Aden city, called for a comprehensive strike in the banking and commercial sector to protest the sharp collapse of the local currency and the deterioration of economic conditions in the city.
In a statement, the syndicate emphasized that the exchange rate of the US dollar has exceeded the 2100 riyals barrier, which led to an insane rise in the prices of basic commodities and the deterioration of the purchasing power of citizens.
“The collapse is no longer merely an economic indicator. It has evolved into a full-blown crisis, with its impact directly affecting people’s lives. Citizens are burdened by living costs that surpass their financial capabilities, gradually paralyzing their ability to meet essential needs,” the statement read.
It further stated that the crisis has triggered drastic price hikes in essential goods and services, leaving ordinary citizens powerless in meeting their daily needs. The statement urged the “Presidential Leadership Council” to take swift action to halt the collapse.
The statement called for immediate actions to manage the exchange market and prevent uncontrolled speculation that could destabilize the currency, along with the creation of an independent oversight body to oversee the enforcement of monetary policies.
The statement stressed that the government loyal to the Saudi-led aggression coalition must provide regular and transparent reports on the management of international deposits and aid, as well as launch support programs for affected families.
