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Cash Consortium of Yemen - Flash Update 28: YER Exchange Rate Volatility August Week 2 & Week 3

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Key findings:

• The IRG vs DFA exchange rate variation currently stands at a 360 YER difference.

• The exchange rate in IRG areas continues to be volatile but it has returned back to less than a 1000 after continued depreciation over the past 5 months. This is possibly contributing to the wide fluctuation in prices.

• The range between the maximum and minimum value of the exchange rate from Aug W2 to Aug W3 expanded in the South from 60 to 111 YER, indicating an increase in volatility, while the exchange rate in the North expanded from 2 to 3 YER, indicating a slightly increase in volatility.

• Additional monetary constraints by decision makers may impact the future exchange rates; these impacts will be monitored in future outputs. It has also been noticed that the exchange rate companies/stores in Al Dhale’e have suspended their operations for more than a week following notification from the central bank.

Methodology: The analysis is predicated on assessing the averages of exchange rates between the spheres of influence for both actors. Enumerators were told to assess three exchange shops per district. However, due to travel constraints and the size of towns where enumerators are present, assessing three shops daily may not be possible.