CURRENCY WAR An employee displays stacks of Yemeni riyal banknotes at a currency exchange office in Yemen’s capital Sanaa on August 16, 2021. AFP PHOTO
CURRENCY WAR An employee displays stacks of Yemeni riyal banknotes at a currency exchange office in Yemen’s capital Sanaa on August 16, 2021. AFP PHOTO


Dubai, United Arab Emirates:
Alongside a grinding seven-year military conflict, Yemen's government and the Huthi rebels are locked in battle on another front - a currency war that has opened up a gulf in Both the government and the Iran-backed Huthis used the same notes until late 2019 when the rebels banned new banknotes printed in government-run Aden, due to concerns about inflation.

The resulting difference in money supply has since seen the riyal's value plummet to around 1,000 to the dollar in government areas, while the value in Huthi-controlled zones has held relatively stable at 600.

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