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  • Newspaper

    Students are caught in a currency exchange trap

    Yemen

    Press

    Al-Fanar-Medi - University World News

    Private universities in Yemen charge tuition fees in US dollars and create their own currency exchange rates, causing many students to drop out of school. Until 2017, the Central Bank of Yemen in Sanaa set the price of the dollar at 250 Yemeni rials. However, private universities in Taiz set the exchange rate at 400 rials for a dollar and the universities of Aden at 500. Other private universities require students in Aden to pay in dollars and do not accept rials. This forces students to resort to the black market, with an exchange rate of 820 rials per dollar.

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