Tremendous Fall for USD against YR [Archives:2000/25/Local News]

Immediatley after the announcement of signing the Yemeni-Saudi border treaty, the Yemen Rial jumped almost 5% against the US dollar to a rate of 153 YR to 1 USD. By the time of going to the press, the exchange rate was 155 YR for 1 USD.
Economists predict that in the case of the slow and gradual normalization in commecial business between Saudi Arabia, the Yemeni Rial will continue to rise steadily.
Another factor behind the rise of the Yemeni Rial is the expected impact of the border treaty on the long-run financial aid from Saudi Arabia, and the resumption of acceptance of Yemeni labor into the Saudi markets.
It is worth mentioning that Saudi Arabia had cut the aid to Yemen as a result of Yemen’s stand in the Gulf War, which also led to the return of more than 800,000 Yemenis from Saudi Arabia to Yemen.

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