CBY announces direct intervention to redress YR value against foreign currencies

Al-Bakri seeks British support for youths programs

The Minister of Youths and Sports Nayef al-Bakri conferred today, Thursday, with the British Ambassador to the Republic of Yemen Abda Sharif over bilateral relations and cooperation.

Israeli aggression on Gaza leaves 51,065 people martyred and 116,505 others wounded

The Israeli occupation's aggression on the Gaza Strip since October 7, 2023, has so far left 51,065 Gazan martyrs and 116,505 others wounded.

Gold near highest record amid continued escalation of trade tensions

Gold prices continued to trade near an all-time high during trading, on Thursday, amid the continued escalation of global trade tensions, and ahead of the European Central Bank's decision on interest rates.

Napoli beats Empoli 3-0 to consolidate second place in Serie

Napoli defeated Empoli 3-0 in their Italian Serie A match, consolidating their second place in the standings.

Last Update: ، 2025/04/18 Time 10:15:13
Latest News:

US Treasury imposes sanctions on IBY bank for financing Houthi terrorist militia

Marib Governor's Deputy Meets with WFP Deputy Representative over Food Crisis Response

PM Emphasizes Role of Expatriates in Homeland Development

PM receives Resident Representatives of UNDP in Yemen

Vice Foreign Minister Discusses Developments in Hodeidah Governorate with Deputy Head of UNMHA

CBY announces direct intervention to redress YR value against foreign currencies

[09/08/2018 06:07]

ADEN-SABA
The Central Bank of Yemen (CBY) announced Thursday direct intervention to adjust the value of Yemeni Rial (YR) against the foreign currencies after speculations in currency exchange market resulted in unprecedented fall down of the national currency.

The CBY had decided to offer batches of foreign currencies to meet the needs of domestic market for foreign currency, specifically to meet the demands of commercial sector in order to stop speculation activities and help ensuring prices stability.

The CBY has asserted that its direct intervention comes in the framework of its overall plan for adjusting monetary policies and activating its tools.

The CBY also has made clear that it decided to keep its direct intervention in place and develop the mechanism of this intervention until foreign exchange rates return to realistic levels.