The Money Exchange Syndicate in Shabwa Governorate has stopped the process of buying and selling currencies in exchange shops in the governorate, after the continuous collapse in the local currency.
The Yemeni scene was briefed on a memorandum issued by the Syndicate of Money Changers in Shabwa Governorate, which includes circulating to the banking sector in the governorate to stop the sale and purchase of currencies, starting from Monday, October 11, until further notice.
According to the memorandum issued under the name of the signature of the head of the Syndicate of Money Changers in the province of Essam Salem Abdul Qader Al-Mashabah and the Secretary-General of the Syndicate of Exchangers, Saleh Halis, this directive comes to protect citizens as a result of the unjustified collapse of currency rates.
The directive excluded humanitarian cases with an amount not exceeding 2,000 Saudis or its equivalent in dollars, in addition to preventing buying and selling through networks, due to the collapse of the currency.
The directive was circulated to all managers of the banking sector in Shabwa governorate.
In Hadhramaut, money exchange shops and companies were closed in the city of Seiyun in protest against the “currency collapse”.