Financial scandal rocks Aden: Exchange companies belonging to officials manipulate the currency and plunder citizens' money.

Arab Sea Newspaper - Special

A financial scandal rocks Aden: Exchange companies affiliated with officials manipulate the currency and plunder citizens' money. On Sunday evening, August 31, 2025, the city of Aden witnessed one of the largest manipulations of the exchange market, after some exchange companies suddenly reduced the exchange rate of the Saudi riyal from 425 riyals to only 250 riyals, in a move described as a "systematic operation outside the scope of the Central Bank." According to local economic sources, this step was not the result of natural market factors, but rather a well-thought-out plan aimed at withdrawing the largest amount of foreign currency from the hands of citizens at low prices, so that the financial differences, amounting to billions of riyals, go into the pockets of those companies affiliated with officials, in one of the boldest speculation operations that targeted the economy and the people together. The affected citizens considered what happened to be a "full-fledged economic crime," demanding that the government and the Central Bank: * Issue an urgent statement explaining the circumstances of what happened. * Open a transparent investigation to hold those involved accountable. * Compensate citizens who lost their money as a result of blatant manipulation. Serious repercussions on economic stability Experts believe that what happened not only reflects a defect in the oversight of the exchange sector, but also reveals a deep gap in the management of monetary policy, which may lead to shaking the public's confidence in the financial system as a whole. Also, leaving such operations without accountability encourages their recurrence in the future and doubles the suffering of the citizen who is already facing severe living pressures. Strategic glimpse This incident indicates that the Yemeni economy is no longer only a victim of the war, but has also become hostage to financial lobbies affiliated with officials who control the market away from the rule of law. If the Central Bank does not intervene firmly, Aden may turn into an open speculation arena, which will deepen the monetary crisis and render any economic reform efforts ineffective.