Cash-strapped Yemenis face rising frustration as exchange firms limit currency conversion amid ongoing liquidity crisis.
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Mukalla, Yemen – The Yemeni government’s measures to curb the devaluation of the Yemeni riyal have finally borne fruit, but they have created another problem: A severe liquidity crunch.
The government’s central bank, based in the southern city of Aden, has shut down unauthorised exchange firms it says were involved in currency speculation, centralised internal remittances under a controlled system, and formed a committee to oversee imports and provide traders with hard currency.
