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Bin-Dagher explores measures to maintain Rial's value

[19/10/2017 08:57]

ADEN-SABA
The Prime Minister Dr Ahmed Obaed Bin-Dagher met Thursday with the chairman of the board of directors of the Yemeni National Bank Dr Mohamed Hulboob.

The meeting devoted to discuss necessary measures need to be taken to maintain the rate of Yemeni Rials value against foreign currencies in the market.

Bin-Dagher made clear that the government has taken a number of measures that can ensure maintaining the value of national currency. To this end, the government has opted for purchasing fuels by hard currency from its own resources and it will keep on to do so, he stated.

He blamed the putschist militias for the deterioration of national currency. Squandering foreign reserves estimated at $5.2 billion and refusing to pay revenues they collect to the Central Bank resulted in the economic disaster the country has been enduring, Bin-Dagher noted.

For his part, Dr Hulboob argued that current rise in the rate of foreign currencies against the Yemeni Rials caused by seasonal reasons. More important is that the putschists' authority has acted irresponsibly issuing blank checks that resulted in widening the gap between the value of Yemeni Rial exchange rate in cash and its rate exchange in checks.

The Central Bank is going to hold a meeting next Sunday will bring together representatives of all banks and the association of the companies which run the exchange business. The meeting is intended to explore possible measures that can help maintaining the value of the Rial