Yemen food costs soar as currency plunges to new low ...Yemen

Arab News AL-MUKALLA: Yemen’s currency has tumbled to a record low against the US dollar despite fresh measures by the country’s central bank to bring the chaotic exchange system under its control. The riyal hovered around 840 against the dollar early on Wednesday, plunging from 800 in recent weeks. In an attempt to shore up the currency, the Aden-based central bank closed unlicensed exchange companies, banned the internal transfer network between exchange companies — known as hawala — and provided oil importers with dollars. During a meeting with local moneychangers last month, central bank officials proposed initiating a formal method of transferring money under the bank’s sup

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