Dividing the currency between Sanaa and Aden..Houthi and legitimacy is a forbidden relationship in the service of money changers and banks
English - Sunday 22 August 2021 الساعة 03:34 pm
Aden, NewsYemen, special:
A banking source revealed that banks and exchange companies have smuggled large amounts of old banknotes to Sanaa, stressing that it is a large corruption and speculative lobby that brings together brokers of both the Houthi and the legitimate ones benefiting from the Houthi separation in the old currency market in northern Yemen.
The source, who holds a high position in a bank in Aden, told "NewsYemen" that the Central Bank had received reliable and accurate information about smuggling large sums of cash from the old edition to Sana'a, but it was unable to punish them.
He said, "He did not take any action against banks and exchange companies, and he did not inspect bank coffers to find out the fate of these funds, where they settled."
The Central Bank of Aden, which suffers from a liquidity crisis from local and foreign exchange, had pumped about 40 billion riyals of old-fashioned banknotes to banks in Aden, to disburse the salaries of some sectors of the state, and to face the liquidity crisis.
The sources confirm that the banks that received sums of old banknotes refrain from exchanging them, and keep them in their safes, and created a brokerage process in exchanging them for banknotes of the new edition.
The decision to ban the Houthi militia from dealing in banknotes in the post-2016 edition created a discrepancy in the exchange rate between Sanaa and Aden, which amounted to about 40 percent, causing severe repercussions on the living situation of the population, and two prices for goods between the liberated areas and the areas under the control of the Houthi militia.
