How did currency speculation affect the citizen and the merchant in Aden?
English - Thursday 19 August 2021 الساعة 10:45 am
Aden, NewsYemen, Muhammad Jassar:
Speculation in currencies has greatly affected the citizen in the capital, Aden. The rise and fall of the currency does not affect a large number of traders.
Citizens in the capital, Aden, saw that the merchants had not decreased the prices of their goods with the recent changes in the currency.
And on the impact of the currency's decline on prices, "Newsmen" did not find that difference, which exceeded 50 riyals in the exchange rate.
Abu Walid, one of the wholesalers, told NewsYemen that goods are not bought at any time, as there is a certain strategy in purchasing goods, which has had several weeks since their arrival at the port.
As for the issue of finding some wholesale stores that sell their goods in hard currency, Abu al-Walid replied that some wholesalers do not want to buy and sell at a loss, because market prices vary according to hours and days. In less than ten days, the price of sugar in a ten-kilo package increased from 6000 to 6400 to 6800 and measure that.
It is noteworthy that the wheel of the economy is running without supervision, and unfortunately, supervision and supply are almost non-existent in the market, so prices vary from one district to another and from one grocery to another.
The price of an egg in Al-Mualla and Crater is 100 riyals, while the price in Sheikh Othman increases by one-fifth to reach 120 riyals for an egg. This is other than the prices of milk and cleaning materials, in which the difference between one store and another reaches 200 riyals.
In this regard, Omar Salem explains to NewsYemen the reasons for the difference in prices between one grocery store and another, saying: There is a difference between those who buy goods on credit (debt) and urgent (cash). In the absence of oversight, prices increase at the request of sellers without accountability or oversight.
In light of this frenzy, only the citizen is suffocated, who has started hitting one-fifths to one-sixth in order to answer one question, which is how he can live?!
