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Cash Consortium of Yemen - Flash Update 45: YER Exchange Rate Volatility April Week 4 & May Week 1

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Key Findings:

• The IRG vs DFA exchange rate variation currently stands at a 461 YER difference.

• The exchange rate in the IRG areas began to depreciate after a month of appreciation.

• The range between the maximum and minimum value of the exchange rate from Apr W4 to May W1 shrank in the South from 205 to 68 YER, indicating stability across exchange shops in IRG areas, and the range of exchange rates also deminished in the North from 21 to 19 YER indicating a slight stability across exchange shops in the areas of interests.

• After the Eid holidays, the DFA markets experienced a slight appreciation in the exchange rate, this appreciation could be attributed to a variety of factors such as the ceasefire agreements or the interconnected nature of the Southern and Northern economies. Future research will be critical in determining the cause and future affect of these variations

• Sana’a City has the highest exchange rate among all the DFA areas, and Al Dahe’e has the highest exchange rate among all the IRG areas.