The IRG vs DFA exchange rate variation currently stands at a 176 YER difference. From the South to the North side there has been a 29% increase, with a 23% decrease from North to South.
The announcement of the implementation of the Riyadh agreement has brought additional confidence to the exchange rate market in the south.
The range of exchange rates from W2 Dec to W3 Dec widened in the south (from 36 to 82) YER and shrank in the north (5 to 4) YER.
While remittances are continuing to hold relatively steady, remittance payments have not returned to pre-COVID levels (see CCY Remittance tool).
The exchange rate in IRG areas has dropped below 800 YER for the first time since August