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Cash Consortium of Yemen - Flash Update 14: YER Exchange Rate Volatility March Week 2 & Week 3

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Key findings:

• The IRG vs DFA exchange rate variation currently stands at a 310 YER difference. From the South to the North there has been a 51% increase, with a 34% decrease from North to South.

• The exchange rate in IRG areas continues to be volatile and is now above 900 YER, after a brief appreciation in the middle of January. This might contribute to widespread frustration as prices rise.

• The range between the maximum and minimum value of the exchange rate from Mar W2 to Mar W3 shrank in the South from 30 to 25 YER while in the North it expanded from 4 to 8 YER. The shrinking range indicates less volatility in the exchange marketplace from month to month.

• While remittances are continuing to hold relatively steady, remittance payments have not returned to pre-COVID levels

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