On Sunday, Yemen's currency rial/riyal fell to its lowest level against all other international currencies in years, as the long-running conflict deepens in the war-torn country.

In spite of the measures the central bank took to curb the devaluation, the riyal weakened sharply in the provinces controlled by the government, banking sources said.

Also read&nbsp; |&nbsp;<a href="https://www.wionews.com/opinions-blogs/when-will-we-see-an-end-to-the-war-in-yemen-377218">When will we see an end to the war in Yemen?</a>

Recent exchange rates in the southern port city of Aden and other neighbouring areas have seen the Yemeni riyal traded at 1703 for every US dollar, marking the lowest exchange rate since the beginning of the civil war in 2015.

In response to Yemen's recent unprecedented devaluation, all banks and exchange stores shut down and a general strike was declared in Aden.

In a statement, the Yemeni banks remarked that "the suspension is not a solution, but rather a protest, to lead the country's government to move according to an economic system, including operating ports and exporting of oil and gas."

Also read |&nbsp;<a href="https://www.wionews.com/world/more-than-150-houthis-dead-in-yemen-raids-says-saudi-coalition-427295">More than 150 Houthis dead in Yemen raids, says Saudi coalition</a>

According to Ahmad Bafaqih, the spokesman for Yemen's Central Bank, "there are many reasons that led to the decline in the exchange rate, the most important of which are the political and economic conditions that the country is going through."

Additionally, the scarcity of cash and the speculation of some money changers and traders contributed to the current devaluation.

Watch |&nbsp;​​​​​​​The West Asia Post: Battle for the last government bastion in Yemen

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-west-asia-post-battle-for-the-last-government-bastion-in-yemen-432217/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

A year after Yemen's central bank was relocated to Aden, the government floated the national currency. Economic observers and analysts said the move wasn't well-studied.

The Yemeni economy is continuing to suffer after all exports were halted following a blockade on the country, which was part of a Saudi-led military intervention in March 2015.

Years later, Yemen's economy remains in recession, following a blockade that halted all exports. This was a part of the Saudi-led military intervention in March 2015.

(With inputs from agencies)

On Sunday, Yemen's currency rial/riyal fell to its lowest level against all other international currencies in years, as the long-running conflict deepens in the war-torn country.

On Sunday, Yemen's currency rial/riyal fell to its lowest level against all other international currencies in years, as the long-running conflict deepens in the war-torn country. In spite of the measures the central bank took to curb the devaluation, the riyal weakened sharply in the provinces controlled by the government, banking sources said. Also read | When will we see an end to the war in Yemen? Recent exchange rates in the southern port city of Aden and other neighbouring areas have seen the Yemeni riyal traded at 1703 for every US dollar, marking the lowest exchange rate since the beginning of the civil war in 2015. In response to Yemen's recent unprecedented devaluation, all banks and exchange stores shut down and a general strike was declared in Aden. In a statement, the Yemeni banks remarked that "the suspension is not a solution, but rather a protest, to lead the country's government to move according to an economic system, including operating ports and exporting of oil and gas." Also read | More than 150 Houthis dead in Yemen raids, says Saudi coalition According to Ahmad Bafaqih, the spokesman for Yemen's Central Bank, "there are many reasons that led to the decline in the exchange rate, the most important of which are the political and economic conditions that the country is going through." Additionally, the scarcity of cash and the speculation of some money changers and traders contributed to the current devaluation. Watch | The West Asia Post: Battle for the last government bastion in Yemen A year after Yemen's central bank was relocated to Aden, the government floated the national currency. Economic observers and analysts said the move wasn't well-studied. The Yemeni economy is continuing to suffer after all exports were halted following a blockade on the country, which was part of a Saudi-led military intervention in March 2015. Years later, Yemen's economy remains in recession, following a blockade that halted all exports. This was a part of the Saudi-led military intervention in March 2015. (With inputs from agencies)

As Yemen conflict drags on, Riyal falls to all an time low; 1703 for every US dollar

Saudi Arabia is acting on Indian concerns over a new currency note that incorrectly showed India's external territorial boundaries as Union Territory of Jammu and Kashmir&nbsp;and Ladakh were shown as a separate entity and while Aksai Chin as part of China.

"Saudi Arabia is taking action," sources confirming the development to WION.

The action includes no circulation of the note and withdrawing it soon as well. The 20 Riyal note was issued by Saudi Arabia, to mark its role of&nbsp;host of the G20 grouping this year.

Also read|&nbsp;<a href="https://www.wionews.com/india-news/india-asks-riyadh-to-take-corrective-steps-on-currency-showing-jammu-and-kashmir-separate-338862">India asks Riyadh to take 'corrective steps' on currency showing Jammu and Kashmir separate</a>

India had asked Saudi Arabia to take "corrective steps" on the new currency note.

A few weeks ago, the ministry of external affairs spokesperson Anurag Shrivastava, in&nbsp;his weekly virtually presser, in response to a question said, "We have conveyed our serious concern to Saudi Arabia for this gross misrepresentation of India's external territorial boundaries on an official and legal banknote of Saudi Arabia" and have "asked the Saudi side for taking urgent corrective steps in this regard."

"I would like to further reiterate that entire Union Territories of Jammu and Kashmir and Ladakh are integral parts of India," he added.

India conveyed its strong concern via Saudi Ambassador in New Delhi as well as at Saudi Arabia's foreign ministry in Riyadh. Saudi Arabia's Monetary Authority had issued the new note on October 24.

Saudi Arabia is acting on Indian concerns over a new currency note that incorrectly showed India's external territorial boundaries as Union Territory of Jammu and Kashmir and Ladakh were shown as a separate entity and while Aksai Chin as part of China.

Saudi Arabia is acting on Indian concerns over a new currency note that incorrectly showed India's external territorial boundaries as Union Territory of Jammu and Kashmir and Ladakh were shown as a separate entity and while Aksai Chin as part of China. "Saudi Arabia is taking action," sources confirming the development to WION. The action includes no circulation of the note and withdrawing it soon as well. The 20 Riyal note was issued by Saudi Arabia, to mark its role of host of the G20 grouping this year. Also read| India asks Riyadh to take 'corrective steps' on currency showing Jammu and Kashmir separate India had asked Saudi Arabia to take "corrective steps" on the new currency note. A few weeks ago, the ministry of external affairs spokesperson Anurag Shrivastava, in his weekly virtually presser, in response to a question said, "We have conveyed our serious concern to Saudi Arabia for this gross misrepresentation of India's external territorial boundaries on an official and legal banknote of Saudi Arabia" and have "asked the Saudi side for taking urgent corrective steps in this regard." "I would like to further reiterate that entire Union Territories of Jammu and Kashmir and Ladakh are integral parts of India," he added. India conveyed its strong concern via Saudi Ambassador in New Delhi as well as at Saudi Arabia's foreign ministry in Riyadh. Saudi Arabia's Monetary Authority had issued the new note on October 24.

Saudi Arabia acts on Indian concerns on bank note showing J&K separate

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