Cash Consortium of Yemen - Flash Update 21: YER Exchange Rate Volatility April Week 2 & Week 3
Key findings:
• The IRG vs DFA exchange rate variation currently stands at a 288 YER difference. From the South to the North there has been a 48% increase, with a 32% decrease from North to South.
• The exchange rate in IRG areas continues to be volatile and has decreased after reaching the 900 YER mark, after a brief appreciation in the middle of January. This is possibly contributing to the wide fluctuation in prices.
• The range between the maximum and minimum value of the exchange rate from Apr W2 to W3 shrank in the South from 39 to 33 YER. The shrinking range indicates less volatility in the exchange marketplace from month to month.
• Additional flooding has begun to occur throughout Yemen causing new challenges for internal travel and trade.
• With ongoing testing and vaccination programs and promises of increased vaccine distributions worldwide, there is potential for more favorable economic conditions in the future.