News - Yemen: Occupied Aden has plunged into financial turmoil as the Association of Money Exchangers announced an open-ended, citywide strike of all exchange offices. The move comes in protest against what the association described as "systematic campaigns" by the puppet government aimed at blaming the financial sector for the rapid collapse of the local currency and manipulation of exchange rates.

The strike unfolds against the backdrop of severe instability in currency markets across the southern and eastern occupied provinces under the control of the Saudi-Emirati occupation coalition. Traders described recent currency improvements as largely “illusory.”

In an official statement, the Association of Money Exchangers rejected accusations from Aden’s central authorities that it is responsible for the crisis, emphasizing that it has been a “key partner” in supporting central bank policies over the past years. The association described the allegations as an attempt to divert attention from the real causes of the economic meltdown, which it identified as:

Lack of effective oversight: The association accused the Aden central authorities and the Saudi-backed government of failing to implement genuine market supervision, allowing manipulation to occur.

Multiple informal levies: Exchange offices face numerous illegal and overlapping fees, increasing operational burdens and forcing some to suspend activities.

Confused policy measures: Decisions issued by the Saudi-backed government regarding exchange rates are inconsistent, exacerbating financial instability.

The association warned that continued "smear campaigns" against the banking sector could heighten market anxiety and directly threaten the stability of the entire financial system. It called on the puppet government, the Aden central bank, and other official bodies to “honestly inform the public” and launch a serious investigation into circulating accusations instead of allowing misinformation to fuel further chaos.

The strike has effectively brought the money exchange sector in occupied Aden to a standstill, directly impacting trade and financial transactions for ordinary citizens.

Analysts say the strike underscores the depth of the economic crisis sweeping the southern and eastern occupied provinces and highlights the widening trust gap between the private sector and the Saudi-backed government and Aden’s central authorities responsible for monetary policy.